15 May 2017
Trustpower lifts profit supported by strong generation performance
Trustpower Limited (NZX:TPW) today announced its financial results for the year ended 31 March 2017. On 31 October 2016 the Trustpower Group demerged into two separate groups - Trustpower Limited (formerly Bay Energy Limited) and Tilt Renewables Limited. These results show Trustpower’s actual performance since demerger together with its share of the combined Trustpower Group’s results pre-demerger. The financial statements have been prepared as if the demerger had been in place for the entire period, including the comparative period.
Trustpower Chair Paul Ridley-Smith said the Company’s performance, particularly over the past five months, has been very pleasing.
“This has been a rewarding year for Trustpower. Strategically, we have successfully completed an organisational demerger and restructure are now well-positioned to deliver improved financial performance. Operationally we have capitalised on strong generation conditions as well as continuing to build the retail business through our multi-product bundling strategy. We have also completed the first full year of operations with King Country Energy.“
© Copyright Infratil