Meridian Energy hydrology challenges in first half FY18

Company News

by Rachael Jones

Meridian Energy (ASX:MEZ) held their AGM today. They noted the financial year was one of two halves. The first half saw significant hydrology challenges, EBITDAF in the first half of 2018 was 7 per cent down on the prior year; however, for the full year, there was a 1.4 per cent rise.

The second half of the year saw the weather help the company favourably manage their water resources.

They also welcomed the Zero Carbon Bill introduced by the NZ Government, and mentioned Australia's ACCC's proposed changes to improve energy affordability.

Total dividends paid to shareholders during the 2018 financial year were also 1.9 per cent higher than the previous year.

Shares in Meridian Energy (ASX:MEZ) opened flat at $2.90.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.