FIRST CUT: Meridian lifts earnings on late hydro recovery

Tue, 21 Aug 2018

By Gavin Evans Aug. 22 (BusinessDesk) - Meridian Energy, New Zealand’s biggest power generator, today reported a slight lift in full-year earnings despite weak hydro conditions for much of the period. Net profit rose marginally to $201 million for the year ended June 30, from a restated $200 million a year earlier. Earnings before interest, tax, depreciation, amortisation and changes in financial instruments rose to $666 million, up 1.4 percent from $657 million a year earlier. Prior year earnings were restated for a change in accounting...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

The Quiz Free

QuiznessDesk: Wednesday, April 17

Test your smarts against our Quizmaster.

The Quizmaster 9:15am

Economy

RBNZ opens consultation on central bank digital currency

Protecting monetary sovereignty is a key factor.

Rebecca Howard 6:00am

RBNZ opens consultation on central bank digital currency

Primary Sector

Warning to NZ primary sector: avoid 'commoditised B2B'

Speaking at an event about food and fibre, the former Unilever CEO did not mince words.

Dileepa Fonseka 5:00am

Warning to NZ primary sector: avoid 'commoditised B2B'

Sponsored

Auckland's new "Midtown" taking shape

5-star hybrid workspaces, combined with the City Rail Link, are creating a revitalised inner-city zone designed to motivate workers back to the office.

Alberts

Sponsored

Building confidence and capability is the key to boosting productivity

In the pack houses of Hawke’s Bay apple growers, smart cameras scan the apples looking for blemishes and grading the fruit to ensure only the best is selected for domestic and international markets.

ASB