Trustpower earnings dip on weak electricity demand, marketing costs

Fri, 29 Apr 2016

By Pattrick Smellie April 29 (BusinessDesk) - Weak prices for wholesale electricity in New Zealand and higher marketing costs saw Tauranga-based integrated energy and telecommunications utility Trustpower's operating earnings fall 1 percent in the year to March 31 in what is likely its last annual result before a proposed demerger. Earnings before interest, tax, depreciation, amortisatioin, fair value movements, asset impairments and discounts on acquisition, the company's proxy for operating earnings, came in 1 percent lower than last ye...

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