Mercury NZ lifts earnings outlook as wet weather boosts North Island hydro generation

Tue, 17 Oct 2017

By Paul McBeth Oct. 18 (BusinessDesk) - Mercury NZ, the electricity generator-retailer formerly known as MightyRiverPower, raised its annual earnings guidance as the spell of wet weather boosted generation at its North Island hydro plants. Earnings before interest, tax, depreciation, amortisation and fair value movements are expected to be $515 million in the year ending June 30, 2018, up from a previous forecast of $500 million which was already an improvement on an initial forecast for ebitdaf of $495 million, Auckland-based Mercury sa...

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