Solid First Half for Mercury; Lifting Our Fair Value Estimate to NZD 3.20
Narrow moat-rated Mercury NZ reported 5% growth in EBITDA in first-half fiscal 2017 to NZD 270 million and 6% growth in underlying NPAT to NZD 94 million. Growth was driven by a 1% increase in energy margin, a lower maintenance expense, and a gain on sale of carbon credits. Maintenance costs should normalise in the second half and the gain on the sale of carbon credits won't repeat. We think the 1% increase in energy margin to NZD 348 million is more reflective of the underlying performance, whi...Mercury NZ is engaged in the investment, development and producing of electricity from renewable and other energy sources, selling of energy and energy related services and products to retail and wholesale customers. As of June 30 2013, Co. had 388,000 electric customers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.