MRP exceeds prospectus forecasts as Heffernan signs off

Tue, 19 Aug 2014

By Pattrick Smellie Aug. 20 (BusinessDesk) - Tight cost control and reduced sales to commercial and industrial customers at low prevailing wholesale electricity prices were primary contributors to state-controlled electricity generator and retailer MightyRiverPower turning in operating earnings just one percent ahead of those forecast in its prospectus prior to its partial privatisation in May last year. Earnings before interest, tax, depreciation, amortisation and changes in the value of financial instruments were 1 percent ahead of the...

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