ESSENTIAL Enterprises Co reported a 0.5 per cent drop in profits to $41.7 million for the year to March, from $41.9 million a year earlier.

An extraordinary profit of $1.79 million pushed profits attributable to shareholders up to $43.5 million, against $44.2 million in the previous year.

Earnings per share were 7.47 cents, a 9.7 per cent fall from 8.27 cents a year earlier.