Mercury trims guidance on declining storage, virus

Mon, 20 Apr 2020

Mercury NZ trimmed its full-year earnings guidance for a second time in two months, citing declining hydro-electric water storage in the North Island and demand reductions due to covid-19.The electricity generator and retailer said it expects full-year earnings of about $490 million before interest, tax, depreciation, amortisation and changes in financial instruments. That is $10 million less than forecast in February and assumes hydro generation of about 3,800 gigawatt-hours of electricity in the year ending June 30, 100 GWh less than the earl...

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