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NZ's Trustpower Ltd year profit down 7 pct
May 9, 2014 / 2:20 AM / 4 years ago

NZ's Trustpower Ltd year profit down 7 pct

WELLINGTON, May 9 (Reuters) - New Zealand power company Trustpower Ltd’s full-year profit fell 7 percent because of lower generation production and margins, as well as a decline in customers, the company reported on Friday.

Trustpower said net profit after tax was NZ$115.12 million ($99.50 million) for the year to March 31, compared with NZ$123.3 million in the previous year.

The company, around half owned by utilities investor Infratil Ltd, declared a dividend of 20 cents, unchanged from last year.

Trustpower has 34 small- to medium-scale hydro plants and two wind farms in New Zealand, with another two wind farms in Australia. It generates about 5 percent of New Zealand’s power. It also provides telephone and internet services.

$1 = 1.1569 New Zealand Dollars Reporting by Gyles Beckford; Editing by Paul Tait

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