Mercury first half profit rises 17% as heavy North Island rain stokes generation

Mon, 26 Feb 2018

By Rebecca Howard Feb. 27 (BusinessDesk) - Mercury NZ lifted first-half profit 17 percent on the back of record total generation driven by favourable North Island rainfall. The electricity generator and distributor, formerly known as MightyRiverPower, said net profit increased to $132 million in the six months ended Dec. 31 from $113 million in the prior period. Earnings before interest, tax, depreciation, amortisation and fair-value adjustments rose to a record $301 million from $270 million. Net profit was boosted by record total g...

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