ContourGlobal ahead on profits

Electricity generation group ContourGlobal (GLO) has impressed with its maiden set of results as a public company. Plans to double cash profits over the next five years were materially ahead of schedule as adjusted profits rose 17 per cent last year, while the growing contribution from thermal assets pulled further ahead of renewables. That was largely in line with management's expectations, particularly as the November float provided good clarity over the year's progress with only a month to go.