Mercury lifts 2017 earnings guidance a third time on higher hydro generation

Wed, 07 Jun 2017

By Jonathan Underhill June 8 (BusinessDesk) - Mercury Energy, the electricity generator-retailer formerly known as MightyRiverPower, raised its 2017 earnings guidance for a third time based on increased hydro generation in the Waikato catchment. Auckland-based Mercury expects earnings before interest, tax, depreciation, amortisation and fair value adjustments to be $520 million in the 12 months ending June 30, up from $493 million a year earlier. That's a $10 million increase from its revised guidance in April. The upgrade "is due to a...

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