Meridian posts record earnings on strong hydro

Meridian posts record earnings on strong hydro
Gavin Evans
Meridian Energy has reported record first-half earnings on the back of record production from its South Island dams and an improved retail performance.The country’s biggest electricity generator reported $465 million of earnings before interest, tax, depreciation, amortisation and changes in financial instruments in the six months ended Dec. 31. That was 20 percent higher than the same period a year earlier.Net profit rose to $191 million from $152 million a year earlier. Underlying net profit, which excludes fair-value adjustments and one-off...

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