FIRST CUT: Mercury earnings fall less than expected on geothermal offset

FIRST CUT: Mercury earnings fall less than expected on geothermal offset
Paul McBeth
By Paul McBeth Aug. 20 (BusinessDesk) - Mercury NZ's annual operating earnings fell 11 percent, less than forecast, as record geothermal production helped offset a dry spell in the North Island that weighed on its hydro schemes.  Earnings before interest, tax, depreciation, amortisation and financial instruments declined to $505 million in the 12 months ended June 30 from a record $566 million a year earlier. That was better than the $495 million Mercury forecast in April. Forsyth Barr analyst Andrew Harvey-Green predicted earnings of $50...

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Third of Powerco on the line
Infrastructure

Third of Powerco on the line

New Zealand's second-largest lines company is 100% Australian-owned.

John Anthony 12 Apr 2024
Beachlands development zoning approval given
Infrastructure

Beachlands development zoning approval given

A large housing development in Beachlands South has been given the go-ahead with the approval of a change to the Auckland Unitary Plan.The private plan change rezones land south of the Beachlands township on the eastern fringe of the city.The development, on land encompassing the...

Staff reporters 12 Apr 2024
Slow and steady wins the race? Familiar speed bumps for fast-track
Policy

Slow and steady wins the race? Familiar speed bumps for fast-track

Freddy the frog will be glad to hear he still has a few months left on the clock.

Dileepa Fonseka 12 Apr 2024
Does NZ really need to spend $1 trillion on infrastructure?
Infrastructure Analysis

Does NZ really need to spend $1 trillion on infrastructure?

In short, no. We probably can't afford it.

Oliver Lewis 11 Apr 2024