Mercury's half-year profit drops, boosts renewable investment

Mercury's net profit after tax for the half-year was $174 million, a decrease of $65m compared to the same period last year.

The decline in profit was attributed to higher depreciation, interest charges, and net changes in fair value.

However, the company's earnings were positively influenced by ongoing investment in renewable generation and higher prices.

Mercury's chief executive, Vince Hawksworth, highlighted the importance of the renewable energy sector's growth and said the company was part of that change.

Mercury also declared a fully imputed interim dividend of 9.3 cents per share, representing a nearly 7% increase from the previous year.

The company's financial results were in line with its growth ambitions and the delivery of more renewable generation.