Transpower lifts 1H profit on higher transmission revenue, eyes bond issue

Wed, 22 Feb 2017

By Rebecca Howard Feb. 23 (BusinessDesk) - Transpower New Zealand reported a higher first-half profit as the state-owned company saw a rise in transmission revenue. The Wellington-based company, which owns and operates the national grid that carries electricity around the country, said its profit before net changes in the fair value of financial instruments was $101.6 million in the six months to Dec. 31, an increase of 2.6 percent on the prior period. The increase largely reflects higher transmission revenue, which was up 3 percent to $4...

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