TrustPower FY earnings fall 6 percent on dwindling customers, thinner margins; shares gain

Fri, 10 May 2013

By Paul McBeth May 10 (BusinessDesk) - TrustPower, the utility controlled by Infratil, reported a 6 percent fall in underlying annual earnings as it went faced a tougher environment with dwindling customer numbers and thinner margins. The shares gained. Underlying earnings, which strips out one-off impairment charges and changes in the fair value of assets, fell to $127.3 million, or 40.5 cents per share, in the 12 months ended March 31, from $135.3 million, or 43 cents, a year earlier, the Tauranga-based company said in a statement. Net pr...

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