Second Mercury earnings upgrade as summer storms fill northern hydro storage

Tue, 23 Jan 2018

By Paul McBeth Jan. 24 (BusinessDesk) - Mercury NZ, formerly MightyRiverPower, has raised its annual earnings guidance for a third time as a spell of wet summer weather around Taupo has the power company anticipating increased generation at its North Island hydro stations. Earnings before interest, tax, depreciation, amortisation, and fair value adjustments are expected to be $530 million in the year ending June 30, up from a previous forecast of $515 million, which was itself an upgrade. The Auckland-based company reported earnings of $...

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