Trustpower trims FY guidance after 1H earnings plunge

Thu, 07 Nov 2019

Trustpower has trimmed its full-year earnings guidance after low hydro inflows and repair costs to a power station cut the company’s underlying first-half profit by 25 percent.The company is expecting earnings before interest, tax, depreciation, amortisation and changes in financial instruments of $200-215 million, based on expected hydro storage and current electricity pricing. The firm had previously said ebitdaf would likely be at the bottom of a $205-225 million range.Trustpower, the country’s fifth-largest electricity retailer and the four...

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