Trustpower first-half profit, ex-Tilt, falls 7.6% on increased operating expenses, demerger costs

Sun, 06 Nov 2016

By Jonathan Underhill Nov. 7 (BusinessDesk) - Trustpower, which spun out its Australian windfarms into a separately listed company, Tilt Renewables, on Oct. 31, posted a 7.6 percent decline in first-half profit on a demerged basis, in the face of rising operating expenses and costs related to the split. Profit was $45 million in the six months ended Sept. 30, from $48.7 million a year earlier, the Tauranga-based company said in a statement. Revenue climbed to $501.6 million from $474.8 million. The demerger created a separate company i...

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