FIRST CUT: Meridian Energy lifts first-half operating earnings 6%

Tue, 21 Feb 2017

By Pattrick Smellie Feb. 22 (BusinessDesk) - A strengthening performance in its Australian business and less dry period insurance thanks to a wet spring and mild winter saw Meridian Energy record a 6 percent lift in operating earnings for the six months to Dec. 1, allowing an increased interim dividend and a further special dividend payment. Earnings before interest, tax, depreciation, amortisation and movements in the value of financial instruments came in at $352 million, while statutory after-tax profit was $124 million, from $104 mill...

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