Big wet spurs third earnings guidance upgrade for Mercury

Mon, 16 Apr 2018

By Paul McBeth April 17 (BusinessDesk) - Electricity generator and retailer Mercury NZ raised annual earnings guidance fpr a third time as persistent wet weather in the central North Island swelled the electricity generator-retailer's hydro scheme. Earnings before interest, tax, depreciation, amortisation and fair value movements are expected to be $540 million in the year ending June 30, up from a previous forecast of $530 million, which had already been upgraded on the favourable weather. Mercury reported ebitdaf of $523 million in 201...

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