Genesis ups full year guidance on solid first half

Huntly power station is a viable alternative to building a multi-billion dollar pumped hydro scheme, Genesis says. (Image: Getty)

Pattrick Smellie

Mon, 28 Feb 2022

Genesis Energy has increased its interim dividend payout and upgraded expectations for full-year earnings after posting a solid, albeit flat, result for the first six months of the current financial year.In the period to Dec 31, the electricity and gas provider reported underlying earnings of $60.3 million, up 1% on the same period a year earlier. The underlying earnings measure is preferred because it strips out the impact on statutory earnings of changes in the value of electricity hedge contracts, which can be volatile.Reflecting this, net p...

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