Mercury operating profit jumps after acquisitions

Tue, 21 Feb 2023

Mercury says its first-half earnings reflect its growing size, following its purchase of Trustpower’s retail arm in May 2022.It was just one of several growth initiatives. Auckland-based Mercury spent more than $1.7 billion buying Tilt Renewables’ New Zealand operations in 2021, Trustpower’s retail business in 2022 and building NZ’s biggest wind farm at Turitea in Manawatū.Operating earnings before interest, tax, depreciation, amortisation and fair value adjustments (Ebitdaf) were up $209 million to $451m for the period...

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