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) are trading 6.22 per cent lower at $4.22.