UPDATE: Mercury reports 53% jump in 1H net profit, lifts FY guidance

Mon, 20 Feb 2017

(Adds detail throughout) By Rebecca Howard Feb. 21 (BusinessDesk) - Mercury NZ increased first-half profit 53 percent, bolstered by favourable North Island hydro conditions and lifted its full year guidance. The electricity generator and distributor, formerly known as MightyRiverPower, said net profit increased to $113 million in the six months ended Dec. 31 from $74 million in the prior period. Its earnings before interest, tax, depreciation, amortisation and fair-value adjustments lifted to $270 million from $257 million. Forsyth Ba...

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