Marine Link
Tuesday, September 26, 2017

NZ's Trustpower Ltd Year Profit Down 75

May 8, 2014


New Zealand power company Trustpower Ltd's full-year profit fell 7 percent because of lower generation production and margins, as well as a decline in customers, the company reported on Friday.

Trustpower said net profit after tax was NZ$115.12 million ($99.50 million) for the year to March 31, compared with NZ$123.3 million in the previous year.

The company, around half owned by utilities investor Infratil Ltd, declared a dividend of 20 cents, unchanged from last year.

Trustpower has 34 small- to medium-scale hydro plants and two wind farms inNew Zealand, with another two wind farms in Australia. It generates about 5 percent of New Zealand's power. It also provides telephone and internet services.

(Reporting by Gyles Beckford; Editing by Paul Tait)

($1 = 1.1569 New Zealand Dollars

Maritime Reporter Magazine Cover Sep 2017 - Maritime Port & Ship Security Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News