3 Nov 2014

Trustpower makes $89m profit

11:11 am on 3 November 2014

The company attributes the rise to gaining more customers, selling more power and making a big capital gain on its July purchase of Australian hydro and wind assets.

The electricity generator and retailer says its net profit of $89.2 million for the six months ended September was struck on a rise in sales of more than 20 percent, to $505 million.

Trustpower says the Green State Power hydro and wind stations in New South Wales which it bought in July are now worth $25 million more than the $81.3 million it paid.

Pipelines to Trustpower power station at Coleridge in Canterbury.

Pipelines to Trustpower power station at Coleridge in Canterbury. Photo: PHOTO NZ