Meridian hopes history never repeats as it delivers worst ever result

Outgoing Meridian boss Neal Barclay hoped his last results would be boring; they were not. (Image: NZME)

Wed, 26 Feb 2025

Meridian says its worst-ever half-year result is unlikely to be repeated if the "dramatic" events of last winter happen again.For the six months ending Dec 31, the country’s largest electricity generator and major retailer reported a net loss after tax of $121 million, compared to a net profit after tax of $191m in last year’s interim result.Operating cash flows were $50m, down from $303m in the same period last year.The gentailer had to cope with 1-in-90-year record hydro lake low inflows and an unexpected and unprec...

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