MightyRiverPower 2015 earnings to be at lower end of guidance; may buy back more shares

Thu, 06 Nov 2014

By Jonathan Underhill Nov. 6 (BusinessDesk) - MightyRiverPower, the first of the state-owned power companies to be partially privatised last year, said 2015 earnings will be at the lower end of guidance, reflecting a lack of water in the catchment of the Waikato River, where it runs nine hydroelectric stations. Chief financial officer William Meek told shareholders at the Auckland-based company's annual meeting that full-year earnings before interest, tax, depreciation and fair value changes would be within the range it gave in August of...

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