Trustpower signals $11 mln profit boost from metering sale

Mon, 18 Nov 2019

Trustpower expects to boost full-year net profit by about $11 million following the sale of its metering business to Financial Corporation.The power generator and retailer didn’t disclose the sale price on the transaction completed on Friday.But in a note on NZX, it indicated the sale would reduce its operating earnings for the year through March 31 by about $4.5 million, while boosting net profit by $11.6 million. The following year, operating earnings would be reduced by about $7.9 million and net profit by $5.7 million, and by 2023, earnings...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

Analysts lift rating on Spark but call for lower dividend

Forsyth Barr now rates Spark at outperform.

Rebecca Howard 3:20pm

Markets

Pattrick Smellie: Jim Grenon’s ‘extremist’ problem

Jim Grenon's letter to NZME shows commercial, if not news, acumen.

Pattrick Smellie 2:00pm

World

Top Trump officials debated war plans on unclassified chat

Texts on Signal revealed disagreements about whether to strike Houthis in Yemen.

The Wall Street Journal 9:48am

Top Trump officials debated war plans on unclassified chat

Sponsored

“Extraordinary” uptake for Auckland’s new growth hub

63% of lots at Spedding Road precinct sold ahead of completion.

Spedding Road

Sponsored

Research shows AI-based attacks causing concern and senior leaders overestimating cybersecurity readiness

Research highlights from Datacom’s State of Cybersecurity Index show AI-based attacks are top of mind and senior leaders might be overestimating their organisations’ readiness to recover from cyber incidents.

Datacom