Mixed FY20 results for Meridian

NEW ZEALAND utility Meridian Energy has reported a mixed financial year result driven by record power generation and strong retail sales growth on both sides of the Tasman, but net and underlying profit fell.

Mixed FY20 results for Meridian Mixed FY20 results for Meridian Mixed FY20 results for Meridian Mixed FY20 results for Meridian Mixed FY20 results for Meridian

Group EBITDA increased by 2% to A$854 million, however net profit after tax fell 48% due to higher depreciation of previously revalued assets and movements in forward prices.