FIRST CUT: Genesis first-half earnings gain as dry summer boosts wholesale unit, Kupe beds in

Tue, 13 Feb 2018

Feb. 14 (BusinessDesk) - Genesis Energy lifted first-half earnings 28 percent as low hydro-lake levels in the South Island boosted the company's demand for wholesale electricity. Earnings before interest, tax, depreciation, amortisation, and fair value adjustments, the favoured measure of power companies, rose to $199.5 million in the six months ended Dec. 31 from $155.7 million a year earlier, the Auckland-based company said in a statement. Revenue climbed 26 percent to $1.21 billion. That was largely in line with Forsyth Barr analyst Andr...

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