Mercury NZ (ASX:MCY) drops EBITAF guidance

Company News

by Katrina Bullock

Electricity generator and retailer Mercury NZ (ASX:MCY) has reduced its 2020 financial year guidance.

The company has dropped its EBITDAF guidance down from $490 million to $480 million for the period.

This reflects an expected 100 gigawatt hour decrease in full year hydro generation to 3,700 Gigawatt hours.

The company attributes the fall in production to continued dry weather conditions in the Taupo catchment.

Shares in Mercury NZ (ASX:MCY) closed x per cent higher/lower at $x.xx

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.