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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...

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