UPDATE: Genesis Energy lifts 1H earnings 28% on demand for wholesale electricity

Tue, 13 Feb 2018

(Updates to add detail throughout) By Rebecca Howard Feb. 14 (BusinessDesk) - Genesis Energy lifted first-half earnings 28 percent as low hydro-lake levels in the South Island boosted the company's demand for wholesale electricity and announced plans to completely phase out coal use by 2030. Earnings before interest, tax, depreciation, amortisation, and fair value adjustments, the favoured measure of power companies, rose to $199.5 million in the six months ended Dec. 31 from $155.7 million a year earlier, the Auckland-based company s...

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