However, the profit result narrowed from the $16.3 million loss recorded in the previous year.

Revenue rose 8% to $340.2 million, while earnings before interest and tax rose 14% to $185.6 million.

Gas volumes transported during the year also improved by 1.7% to 114.3 petajoules and Envestra’s total customer base increased 21,400 to reach 968,200.

“The main drivers [behind the increased revenue] were an $18 million increase in haulage revenues largely arising from higher tariffs, but also 5% higher volumes to our smaller customers caused by the colder winter in 2006 versus 2005, which was extremely mild,” Envestra managing director Ian Little told a corporatefile.com.au Open Briefing yesterday.

“The 2006 winter, however, was in line with the five-year average and therefore we wouldn’t expect this driver of revenue improvement to recur, whereas tariff increases close to CPI can be expected.”