The network company said its net profit for the year to the end of June was $164.4 million, with chairman Michael Stiassny describing the company's performance as "very robust".
The comparative net profit for 2007 of $233.3m was restated under international accounting rules, and was inflated by previously disclosed one-off tax adjustments, the company said.
Earnings before interest, tax, depreciation and amortisation rose 5.7 percent to $640m, with group revenue up 1.7 percent to $1.33 billion.
"Vector has made sound progress in our strategic journey to becoming a leading, integrated infrastructure company with core interests in open access electricity, gas and telecommunication networks," Stiassny said.
Chief executive Simon Mackenzie said Vector estimated the cost of building a significant fibre optic network covering the wider Auckland region would cost over $1 billion.
"We have the capability and scale to deliver this infrastructure and accordingly this option will remain a key area of focus for us," he said.
But financial, commercial and risk criteria would need to be satisfied as well as having regulatory stability across Vector's other lines of business.
In the latest year, Vector's technology business, which includes telecommunications and energy metering, had total revenue of $69.2m.
That was lower than last year's $65.8m and far below the $637.5m from the company's electricity business and $665.9m from its gas division.
Vector is already working on a 300km expansion of its Auckland fibre optic network, agreed with Vodafone and connecting to 41 Telecom exchanges.
Mackenzie said its fibre network now covered most of the central Auckland business district, a loop around west Auckland and parts of the North Shore.
Both major political parties had announced broadband investment policies, clearly aimed at infrastructure investment, he said.
Vector would engage with whoever was elected this year on how the company could meet the Government's objectives. The company also announced on Wednesday that it had signed a contract with Genesis Energy for the roll out of advanced metering services to 500,000 homes and businesses, under which Vector would provide metering infrastructure.
Smart meters can be read remotely and allow customers to monitor energy use. Genesis has said that once meters were installed, customers would be able to take advantage of different power price rates.
Mackenzie also said on Wednesday that Vector remained concerned by the proposed moratorium on extra thermal electricity generation.
This country had a healthy supply of gas with new fields being developed, but new investment in natural gas transmission pipelines was primarily dependent on thermal power generation being built, Mackenzie said.
Vector also could not carry "the much needed power that simply isn't available or being generated in the first place".
The results published on Wednesday do not include profit expected to be about $200m on the $785m sale of Vector's Wellington power lines network, which happened after the end of the financial year.
