MARKETS

APA profit down 99%

APA GROUP’s full year profit is down 99% driven by the impairment it took on the troubled Orbost gas plant in the first half of the financial year and finance costs, it said today.

The Orbost gas plant

The Orbost gas plant

The Orbost gas plant is still not performing at nameplate as persistent foaming and fouling issues force regulator maintenance while APA carries the cost of supplying third-party gas to Cooper Energy's...

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