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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
Investment
1 mins to read

Genesis profit falls 74%

Unit 5 outage at Huntly contributes to higher cost environment for power company.

Huntly's Unit 5 was out of action from June last year until January.

NBR Staff Thu, 22 Feb 2024

Electricity generator and retailer Genesis Energy has reported a 74% drop in profit for the half year to December as a generator outage and lower hydro flows cranked up fuel costs.

Net profit for the six months was $38.3 million, down from $145.3m in the same period a year earlier.

Revenue grew 19%

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NBR Staff Thu, 22 Feb 2024
Contact the Writer: editor@nbr.co.nz
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Genesis profit falls 74%
Investment,
102837
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