Trustpower trims dividend, forecast for covid impacts

Wed, 27 May 2020

Trustpower is picking a modest lift in operating earnings for the current financial year, reflecting dry conditions in the North Island and an expected increase in bad debts from the covid-19 crisis. New Zealand’s fifth-largest retailer today reported a 16 percent drop in earnings before interest, tax, depreciation, amortisation and changes in financial instruments to $186.5 million for the March year. Retail earnings were slashed by high wholesale prices for much of 2019, while maintenance outages also reduced generation earnings. Now th...

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