Meridian reports increased sales and higher prices

Meridian reports increased sales and higher prices
Meridian's Manapōuri station has not been working at full capacity. (Image: Meridian)
Ian Llewellyn
Meridian Energy reported increased earnings and a reduced profit for the six months ended Dec 31.Net profit after tax (Npat) was $ 191 million, $10m or 5% down on the same period last year, with the change largely due to changes in the fair value of hedge instruments.Operating earnings (Ebitdaf ) of $443m increased by $18m (4%) over the previous year, driven by higher retail and wholesale sales.Repeating a common theme in this reporting season, Meridian said it had been dealing with higher costs.Operating expenses were $16m (13%) higher fr...

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