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Mercury backs market after record earnings result

The renewable electricity generator and retailer warns against kneejerk reaction to high spot prices.

Mercury Energy’s Kaiwera Downs wind farm.

Tim Hunter Tue, 20 Aug 2024
Key points
  • Revenue: Up 6% to $1.23b.
  • Profit: Up 159% to $290m. 
  • Main takeaway: Gentailer delivers 16th consecutive year of increased dividends, invests in more generation. 

Mercury Energy delivered a staunch defence of the electricity market on a conference call with analysts after reporting record operating earnings for the year to June.

“We’ve had every possible opinion over the last couple of months, many of them based on a paucity of analysis or a hugely vested

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Tim Hunter Tue, 20 Aug 2024
Contact the Writer: thunter@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Key points
  • Revenue: Up 6% to $1.23b.
  • Profit: Up 159% to $290m. 
  • Main takeaway: Gentailer delivers 16th consecutive year of increased dividends, invests in more generation. 
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Mercury backs market after record earnings result
Investment,
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