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TrustPower Reports Profit Of $105.1 Million In Fiscal 2009

Published: 15-May-2009

TrustPower Limited (TrustPower) has reported operating revenues of $785.4 million for the fiscal year-end 2009, up 15%, compared with the operating revenues in the previous year-end. It also reported profit of $105.1 million for the fiscal year-end 2009, up 7.1%, compared with the profit of $98.1 million in the previous year-end.

Operating revenue increased “as a result of higher energy prices charged to those customers paying spot market prices through the first half of the year,” said chairman Bruce Harker. Lower-than-average lake levels through to September 2009 “elevated wholesale electricity prices for a number of months.”

Electricity revenue increased by 13% to $744.8 million, despite an 11% fall in volume sold to 4,032 gigawatt hours. TrustPower will pay a final dividend of NZD17, for an annual payout of 33 cents, up 10% from the previous year.

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