The winds of change: Mercury earnings down $48m

The company stumped up $65m to exit a loss-making hedge contract with Norske Skog. (Image: Supplied)

Tue, 22 Feb 2022

Energy company Mercury NZ's reported half-year earnings were down $48 million from the period last year as it faced dry weather conditions and made significant changes to the business.The electricity generator and retailer earned $242m in the half year ended Dec 31, before interest, tax, depreciation, amortisation, and fair value adjustments.This was below the expectations of analysts from Forsyth Barr and Jarden – who predicted earnings to be roughly $275m – and down from $290m last year.Net profit after tax more than tripled o...

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