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Mercury flags higher prices, higher profits

The electricity gentailer has increased full year earnings guidance, although costs dragged down its half year bottom line.

Mercury's Maraitai power station on the Waikato River.

NBR Staff Tue, 20 Feb 2024
Key points
  • Revenue: Up 23% to $1.6b.
  • Net profit: Down 27% to $174m.
  • Key takeaway: Overhead costs offset higher margins from trading.

Electricity generator and retailer Mercury has signalled a price rise for customers in April and increased its profit guidance for the full year on higher wholesale margins.

Announcing results for the half year to December, Mercury said although it had delivered a strong trading margin from its

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NBR Staff Tue, 20 Feb 2024
Contact the Writer: editor@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Company profile
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Key points
  • Revenue: Up 23% to $1.6b.
  • Net profit: Down 27% to $174m.
  • Key takeaway: Overhead costs offset higher margins from trading.
Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Mercury flags higher prices, higher profits
Investment,
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