Full dams help push up Mercury earnings by $40m

Rain is dam good for the bottom line. (Image: Mercury)

Fri, 21 Oct 2022

Mercury NZ has upped its earnings guidance by 6.9%, or $40 million, predicting earnings before interest, tax, depreciation, amortisation and change in fair value (Ebitdaf) of $620m in the year ending June 30, 2023.That's on the back of surging hydro generation, which is now forecast at 4,500 gigawatt-hours (GWh), higher yields in commercial industrial sales and better trading results.In its update for the September quarter, the electricity generator-retailer said its Waikato catchment inflows had boosted hydro production by 502 GWh to 1,455...

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