Mercury Energy has recorded a huge surge in profit, thanks to favourable hydro conditions and renewable power generation.

The energy gentailer has announced annual net profit for $321-million, up from just $1 million last year.

The previous year had been affected by unusually dry and calm conditions, and faster-than-expected depletion of gas reserves - issues that also affected most other power generators.

CEO Stew Hamilton says this profit has been boosted by new investments made by the company. 

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Mercury Energy has recorded a huge surge in profit, thanks to favourable hydro conditions and renewable power generation.
The energy gentailer has announced annual net profit for $321-million, up from just $1 million last year.
The previous year had been affected by unusually dry and calm conditions, and faster-than-expected depletion of gas reserves - issues that also affected most other power generators.
CEO Stew Hamilton says this profit has been boosted by new investments made by the company.&nbsp;
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Stew Hamilton: Mercury Energy CEO on the company posting an improved increase in earnings

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/836ee723-f49b-4d10-b835-b4aa0072ac71/transcript