Trustpower signals $11 mln profit boost from metering sale

By Gavin Evans | Mon, 18 Nov 2019


Trustpower expects to boost full-year net profit by about $11 million following the sale of its metering business to Financial Corporation.The power generator and retailer didn’t disclose the sale price on the transaction completed on Friday.But in a note on NZX, it indicated the sale would reduce its operating earnings for the year through March 31 by about $4.5 million, while boosting net profit by $11.6 million. The following year, operating earnings would be reduced by about $7.9 million and net profit by $5.7 million, and by 2023, earnings...