TrustPower's consolidated underlying net profit for is first half came to $63.8 million, down 12% compared with the previous corresponding period, due in part to a mild winter.The power generator and retailer said its earnings before interest, tax, deprec
TrustPower’s consolidated underlying net profit for is first half came to $63.8 million, down 12% compared with the previous corresponding period, due in part to a mild winter.
The power generator and retailer said its earnings before interest, tax, depreciation, amortisation and fair value movements on financial instruments fell by 5% to $147.7 million.
The primary drivers of the reduced result were lower revenue from the Snowtown wind farm due to low wind conditions, lower retail customer demand caused by a milder winter and lower South Island energy costs during winter 2009, which improved the prior period result, the company said.
TrustPower’s shares last traded at $7.61, down two cents from Wednesday’s close.
The company has renewable energy assets in New Zealand and owns a 98 megawatt wind farm in South Australia.
