20 Jan 2015

Business Briefs

1:49 pm on 20 January 2015

Mighty River Power volumes fall

Mighty River Power said generation volumes fell 1 percent in the last three months of 2014, compared to the same period a year ago.

The listed power company said hydro production fell to its second lowest quarterly level since the company was formed in 1999.

But it said Lake Taupo's storage increased during the quarter.

Mighty River said national demand increased slightly compared to the previous year, though electricity consumption was only back to 2011 levels.

OceanaGold exceeds production guidance

OceanaGold said it had exceeded its production guidance off the back of record gold production from its mine in the Philippines.

It produced 34,783 ounces at its Didipio site in the December quarter.

OceanaGold said total quarterly gold production rose 38 percent to 92,712 ounces.

Airlines' profit expectations rise

The International Air Transport Association said airlines' profit expectations had risen for the year ahead.

Its survey of airlines and cargo operators said this was consistent with improvements in recent performance.

The association said respondents were also confident air transport volumes would continue to expand over the next 12 months, despite rising concerns about the health of the global economy.