Manawa Energy FY net profit jumps

Manawa Energy FY net profit jumps
The earnings were underpinned by last year’s sale of its Trustpower retail business to Mercury Energy. (Image: Manawa Energy)
Greg Hurrell
Manawa Energy has recorded a net profit after tax of $444 million in the 12 months to March 31, 2023, a year that saw its transformation from a gentailer to a generation-only company.That net profit was a 271% increase on the $120m it posted last year.Manawa said this was underpinned by last year’s sale of its Trustpower retail business to Mercury Energy and underlying earnings of $70m. The company’s earnings before interest, tax, depreciation,  amortisation and financial instruments (Ebitdaf) for continuing operations was...

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