Genesis 1H earnings slip as reduced generation offsets retail gains

Tue, 26 Feb 2019

By Gavin Evans Feb. 27 (BusinessDesk) - Genesis Energy reported a 2 percent decline in first-half operating earnings as reduced earnings from its generation and Kupe interests offset gains in pricing and volumes in its retail business. The country’s biggest power and gas retailer reported earnings before interest, tax, depreciation, amortisation and changes in financial instruments of $196 million for the six months through December, from $198 million a year earlier. Net profit jumped to $49 million, from $28 million, on fair value adj...

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