Mercury works through cost and hydro niggles in first-half reporting

Mercury works through cost and hydro niggles in first-half reporting
Mercury's cup did not flow over, but a late filling of dams has boosted guidance. (Image: Mercury)
Ian Llewellyn
Factors outside Mercury’s control drove a reduction in profit and earnings, but the company had dealt well with the conditions put in front of it, chief executive Vince Hawksworth says.On Tuesday morning, Mercury reported a net profit of $174 million for the six months ending December, down $65m on the prior comparable period due to higher depreciation, interest charges and net changes in fair value.Earnings (Ebitdaf) came in at $434m, $17m down on the same spell a year earlier. This followed a strong performance due to higher hydro gener...

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