NZ Windfarms takes $31.7M impairment charge, resulting in wider FY loss

Mon, 27 Aug 2012

Aug. 28 (BusinessDesk) - NZ Windfarms, which operates Te Rere Hau windfarm in the Tararua Ranges, posted a wider full-year loss after taking an impairment charge against its assets and reporting power generation was 25 percent below budget. The net loss was $24.6 million in the 12 months ended June 30, from a loss of $3.38 million a year earlier. The loss in the latest year included an impairment of assets of $30.7 million. Sales rose to $9.76 million from about $4.1 million. Earnings before interest, tax, depreciation, amortization and the...

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