Duet Profits Slump 310% Due To Derivative Losses

23 Feb 2009

Mark-to-market losses on interest-rate and foreign exchange derivatives used for hedging helped sent Duet Group to a 310% half-year statutory net loss of AUD146.7 million (USD94.84 million).

Mark-to-market losses on interest-rate and foreign exchange derivatives used for hedging helped sent Duet Group to a 310% half-year statutory net loss of AUD146.7 million (USD94.84 million). The Australian energy-delivery firm, managed by AMP and Macquarie Group, recorded unrealized non-cash mark to market losses on derivatives at the ...

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