Trustpower cut to 'underperform' by First NZ on prospect of normal rainfall, skinnier margins

Tue, 15 May 2018

By Rebecca Howard May 16 (BusinessDesk) - Trustpower got a mixed review from research analysts, with First New Zealand Capital downgrading the stock to 'underperform' as above-normal rainfall slows and retail margins shrink, while rival Morningstar affirmed its view that multiproduct offering will boost revenue. Tauranga-based Trustpower this week lifted annual profit 35 percent as the electricity gentailer's earnings were bolstered by favourable hydro generation and its retail strategy of bundling gas and telecommunications services wit...

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