FIRST CUT: Mercury delivers record earnings on high inflows, production

Mon, 20 Aug 2018

By Gavin Evans Aug. 21 (BusinessDesk) - Mercury NZ reported a record $561 million in operating earnings on the back of record generation and high wholesale power prices. The company, the country’s third-largest power and gas retailer by accounts, reported a 27 percent increase in net profit to $234 million for the year ended June 30, from $184 million a year earlier. Earnings before interest, tax, depreciation, amortisation and changes in financial instruments rose to a record $561 million, up 7 percent from $523 million a year earlier....

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