Powerco posts 1.6% gain in full-year earnings on customer growth

Tue, 24 May 2016

By Edwin Mitson May 24 (BusinessDesk) - Powerco, which supplies electricity and gas to 436,000 homes in the central and southern North Island, posted a 1.6 percent gain in pretax earnings, which it says was driven by strong customer growth and higher electricity volumes. Earnings before interest, tax, depreciation, amortisation and changes in the fair value of financial instruments rose to $253.3 million in the 12 months ended March 31, from $249 million a year earlier, the company said in a statement. Revenue increased 2.5 percent to $4...

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