Drought hits Q4 MightyRiver production, as forecast

Tue, 23 Jul 2013

July 24 (BusinessDesk) – Partially privatised electricity company MightyRiverPower saw electricity generation and sales fall in the last quarter of the financial year to June 30, although the decline was forecast in the company’s April prospectus. MRP listed on the NZX and ASX in May at $2.50 and was quoted this morning at $2.40. While sales to customers were down 3 percent on the comparable prior period in 2012, sales for the year were up 5 percent. The lowest hydro inflows into the company’s Waikato River catchment in April, combined with...

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