Trustpower signals $11 mln profit boost from metering sale

Trustpower signals $11 mln profit boost from metering sale
Gavin Evans
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...

More Infrastructure

Opening day congestion for untolled Penlink highway – NZTA
Infrastructure

Opening day congestion for untolled Penlink highway – NZTA

The road should be redesigned if the Government chooses not to toll, agency said.

Oliver Lewis 26 Jul 2024
Downtown car park building legal challenge 'resolved'
Infrastructure

Downtown car park building legal challenge 'resolved'

Society challenging the sale to Precinct raised 0.4% of its High Court funding target.

Oliver Lewis 25 Jul 2024
Govt to fight receivers over $30m Tui oil field tax credit
Infrastructure

Govt to fight receivers over $30m Tui oil field tax credit

Crown bid to have liquidators cover decommissioning costs is subject to approval.

Victoria Young 24 Jul 2024
Govt agrees 'in principle' to $10b worth of Northland roading PPPs
Infrastructure

Govt agrees 'in principle' to $10b worth of Northland roading PPPs

The Northland expressway project could be one of the first PPPs out of the gate.

Dileepa Fonseka 23 Jul 2024