FIRST CUT: Mercury 1H profit jumps 53%, lifts full year guidance

Mon, 20 Feb 2017

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 versus $257 million. Forsyth Barr analyst Andrew Harvey...

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