The winds of change: Mercury earnings down $48m

The winds of change: Mercury earnings down $48m
The company stumped up $65m to exit a loss-making hedge contract with Norske Skog. (Image: Supplied)
Dan Brunskill
Energy company Mercury NZ's reported half-year earnings were down $48 million from the period last year as it faced dry weather conditions and made significant changes to the business.The electricity generator and retailer earned $242m in the half year ended Dec 31, before interest, tax, depreciation, amortisation, and fair value adjustments.This was below the expectations of analysts from Forsyth Barr and Jarden – who predicted earnings to be roughly $275m – and down from $290m last year.Net profit after tax more than tripled o...

More Markets

NZ sharemarket up 0.5% ahead of long weekend
Markets Market Close

NZ sharemarket up 0.5% ahead of long weekend

Pacific Edge's share price fell 7.32%.

Tom Raynel 24 Apr 2025
Pacific Edge suffers another setback in US
Markets

Pacific Edge suffers another setback in US

Shares in cancer diagnostics company Pacific Edge are down 2.44% to $0.120 after another setback in the US market.The US District Court for the Middle District of Pennsylvania has determined that it does not have jurisdiction to review a Local Coverage Determination (LCD) that co...

Staff reporters 24 Apr 2025
Listed retailers stand to gain from Trump tariffs:  Forsyth Barr
Retail

Listed retailers stand to gain from Trump tariffs: Forsyth Barr

Forsyth Barr lifted its KMD Brands target price by 10.4% after Trump tariff walkbacks.

Gregor Thompson 24 Apr 2025
NZ sharemarket rises as Trump backs down
Markets Market Close

NZ sharemarket rises as Trump backs down

The S&P/NZX 50 Index closed up 1.01% or 119.78 points.

Tom Raynel 23 Apr 2025