Transpower returns to 1H profit, earnings margin ahead of SCI annual target

Thu, 28 Feb 2013

By Paul McBeth March 1 (BusinessDesk) - State-owned national electricity grid operator Transpower returned to a first-half profit after taking a smaller unrealised hit on its financial instruments than a year earlier, and its earnings margins are tracking ahead of its annual target. The Wellington-based company made a profit of $70.7 million in the six months ended Dec. 31 from a loss of $51.5 million a year earlier, it said in a statement. Stripping out unrealised movements in its financial instruments, earnings climbed 45 percent to $111.5...

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