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

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

More Infrastructure

What NZ bosses need to know about cyber outage
Infrastructure

What NZ bosses need to know about cyber outage

CEOs urged to consult IT, insurers amid widespread cyber outage.

Chorus cap will save public $250m over four years: ComCom
Infrastructure

Chorus cap will save public $250m over four years: ComCom

The decision affects how much Kiwis pay for fibre. 

Staff reporters 18 Jul 2024
Health NZ: fewer billion-dollar hospital projects, more staging
Infrastructure

Health NZ: fewer billion-dollar hospital projects, more staging

The centralised agency wants to change how NZ delivers health infrastructure.

Oliver Lewis 18 Jul 2024
'No confidence' in Lyttelton Port CEO – union says
Infrastructure

'No confidence' in Lyttelton Port CEO – union says

Graeme Sumner says port workers are meaningfully involved in decisions.

Oliver Lewis 17 Jul 2024