The Adelaide-based company increased its six month sales revenue from $140 million to $146 million and total income was $152 million, which included $2.42 million from the sale of its stake in Victoria's Gasmart.

Envestra also announced it intends to raise $79 million through an issue placement of 66.4 million shares and its Security Purchase Plan. The price of the new securities issued will be 87.23.

The money will be used to fund Envestra's capital expenditure program as well as re-finance maturing convertible notes.