Trustpower boosts first-half profit 80% as it benefits from higher prices

Sun, 05 Nov 2017

By Tina Morrison Nov. 6 (BusinessDesk) - Trustpower, New Zealand's fifth-largest electricity generator, boosted first-half profit 80 percent as its spread of generation assets allowed it to benefit from higher prices. Net profit rose to $80.8 million, or 25.8 cents a share, in the six months ended Sept. 30, from $45 million, or 14.5 cents, a year earlier, the Tauranga-based company said in a statement. Operating revenue lifted 3.7 percent to $520.1 million, while operating expenses dropped 7.8 percent to $360.9 million. Its shares incr...

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