Good Fiscal 2016 Result for Meridian, Though a Little Below Expectations
Meridian Energy posted a good fiscal 2016 result with underlying net profit after tax increasing 11% to NZD 233 million, 5% below Morningstar forecasts. Operating costs increased 4% to NZD 248 million, driven by investment to support expansion of the firm's Powershop retail brand into Australia and the U.K. EBITDA increased 5% to NZD 650 million, the firm's highest earnings since 2011.This is a good result considering oversupply in generation and elevated competition in retail, with Meridian ou...
Meridian Energy is engaged in the generation, trading and retailing of electricity, related products and services. Co. operates in three reportable segments. The wholesale segment includes generation and sale of electricity to wholesale market; purchase and resale of electricity to industrial and retail customers; development of New Zealand renewable energy generation opportunities; and provision of risk management and dam consultancy services. The retail segment includes purchase and sale of electricity to retail customers; and provision of metering services. The international segment includes generate, sale and retail of electricity within Australia and United States.
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.