FIRST CUT: Genesis Energy delivers steady earnings in FY17

Mon, 21 Aug 2017

By Pattrick Smellie Aug. 22 (BusinessDesk) - Genesis Energy, the country's biggest electricity retailer by customer numbers, delivered steady full-year earnings, reflecting both positive and negative effects from swiftly changing South Island hydro-generation conditions in the last half of the year. The Auckland-based company posted earnings before interest, tax, depreciation, amortisation and changes in the value of financial instruments of $335 million in the 12 months to June 30, a 1 percent fall on the previous year but ahead of previ...

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