Trustpower annual profit climbs 37% post-Tilt demerger, bolstered by Australian hydro

Sun, 14 May 2017

By Paul McBeth May 15 (BusinessDesk) - Trustpower lifted annual profit 37 percent as the electricity generator-retailer's earnings were bolstered by strong hydro production and favourable prices in Australia, and a full-year contribution from King Country Energy. Net profit rose to $94 million, or 29.6 cents per share, in the 12 months ended March 31 from $68.5 million, or 21.7 cents, a year earlier, the Tauranga-based company said in a company. Trustpower carved out its Australian windfarms into separately listed Tilt Renewables, and th...

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