Trustpower announces flat first-half earnings

Fri, 30 Oct 2015

By Pattrick Smellie Oct. 30 (BusinessDesk) - Tauranga-based utility Trustpower announced flat earnings for the first half of the year on an underlying profit after tax basis, reporting a 1 percent uplift on the same period last year at $68.3 million. The result included a $6.1 million hit from the impact of a tax department ruling on the way Trustpower treated expenditure on feasibility studies in the past. That cost could be reversed if the Infratil-controlled company succeeds in an appeal to the Supreme Court next March. Statutory pr...

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