Genesis maintains $400m-plus 2021 earnings target

Thu, 20 Aug 2020

Genesis Energy is expecting to deliver on its $400 million operating earnings target this year, subject to a return to normal rainfall and barring any material one-off events. The country’s biggest energy retailer today reported $356 million of earnings before interest, tax, depreciation, amortisation and changes in financial instruments for the year ended June 30. That was down 4 percent from a year earlier, as near-record dry conditions on the North Island reduced its hydro production and increased the company’s thermal fuel costs. Lowe...

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