Mercury nudges up earnings guidance on increased hydro generation

Wed, 19 Apr 2017

By Paul McBeth April 20 (BusinessDesk) - Mercury Energy, the electricity generator-retailer formerly known as MightyRiverPower, increased annual earnings guidance 2 percent as unseasonably strong inflows in the Waikato catchment lifted the power company's hydro generation. Auckland-based Mercury expects earnings before interest, tax, depreciation, amortisation and fair value adjustments to be $510 million in the 12 months ending June 30, up from $493 million a year earlier. The $10 million increase in guidance is Mercury's second upgrade...

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