UPDATE: Genesis underlying profit up on improved retail performance

Tue, 27 Aug 2019

(Adds share price reaction, divisional earnings and 2020 earnings forecast from 6th paragraph) By Gavin Evans Aug. 28 (BusinessDesk) - Genesis Energy reported a 16 percent increase in underlying full-year profit, with improved retail earnings offsetting a flat performance from its generation arm and weaker oil production from its Kupe interests. The country’s biggest electricity and gas retailer said net profit more than doubled to $59 million for the year ended June 30, buoyed by $35 million of fair value gains. Excluding those gains...

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