Genesis signals 15% 1H earnings decline, maintains FY guidance

Gavin Evans
Thu, 23 Jan 2020

Genesis Energy says first-half operating earnings will be down about 15 percent on the previous year’s record result due to a combination of low hydro storage and high fuel costs.The country’s biggest energy retailer today reported stronger volumes and lower costs at its electricity and gas retailing business in the six months ended Dec. 31, but posted reduced hydro production and higher gas and coal costs for its generation arm than the year before.“The continued momentum from our retail segment is pleasing, however, the ongoing fuel constrain...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

The Economist
House prices braced for a storm
The Economist | Mon, 27 Jun 2022

The pain of rising mortgage repayments will be harder to bear in some places than in others, for example, in NZ and Australia.  

The Economist
NATO holds its most important summit in generations
The Economist | Mon, 27 Jun 2022

Jacinda Ardern becomes the first NZ prime minister to attend a NATO summit, this week in Madrid. The meeting marks a crucial moment in the alliance's approach to both Russia and China, says The Economist.

The $200m question: funding free public transport in Auckland
Oliver Lewis | Mon, 27 Jun 2022

A new report outlines four possible solutions to a $200m question.

Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.