Trustpower posts 16% gain in first-half profit, eyes Australian renewables

Sun, 02 Nov 2014

By Jonathan Underhill Nov. 3 (BusinessDesk) - Trustpower, the energy company controlled by Infratil, posted a 16 percent gain in first-half profit after lifting retail electricity sales and said it is seeking more wind farm opportunities in Australia. Profit rose to $89.2 million, or 28.5 cents a share, in the six months ended Sept. 30, from $77.2 million, or 24.6 cents, a year earlier, the Tauranga-based utility said in a statement. Sales rose 21 percent to $504.9 million. Trustpower has been increasing leverage as it invests in the...

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