Subscribe today - find out more
Why you should consider BusinessDesk

Mercury trims earnings guidance again

Staff reporters
Fri, 26 Jun 2020

Mercury NZ trimmed its full-year earnings guidance for the third time in four months, citing declining hydro-electric water storage in the North Island.The electricity generator and retailer said it expects full-year earnings of about $480 million before interest, tax, depreciation, amortisation and changes in financial instruments. That is $10 million less than forecast in April and assumes hydro generation of about 3,700 gigawatt-hours of electricity in the year ending June 30, 100 GWh less than the earlier forecast.The firm, which also opera...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Law & Regulation
A crackdown on all your houses: no blind eye to poor privacy practices
Michael Andrew | Thu, 02 Dec 2021

The first year of the new privacy act saw the privacy commissioner flex his powers, publicly rebuking the Reserve Bank. We can expect to see more of the same in 2022, legal watchers say.

Retail FREE
It's happening – Ikea coming to Sylvia Park
Staff reporters | Thu, 02 Dec 2021

Ikea is finally landing in New Zealand. Really.

Click & collect: Bunnings doubles profits to $52m
Brent Melville | Thu, 02 Dec 2021

Building supplies group Bunnings had a good year, with net income more than doubling on the strength of a resurgent construction and DIY market.

Statutory reform can deliver momentum to land transport decarbonisation

To met the government's ambitious net carbon zero target, New Zealanders need to reduce their reliance on cars.

Mansons leads with 120% carbon offset for new builds

Mansons TCLM is committing to a benchmark of 120% carbon offset for new buildings.