FIRST CUT: Mighty River Power first-half profit rebounds as impairments fall

Mon, 22 Feb 2016

By Pattrick Smellie Feb. 23 (BusinessDesk) - Auckland-based electricity generator and retailer Mighty River Power announced a recovery in net profit for the six months to Dec. 31 to $74 million from $8 million in the same period last year, as impairments created by withdrawal from international operations fell. The partially privatised company said its operating earnings were flat, falling just $1 million to $257 million on the basis of earnings before interest, tax depreciation, amortisation and changes in the value of financial instrume...

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