Half Year 2021 Mercury NZ Ltd Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the Mercury Limited interim results briefing. (Operator Instructions) And just please be advised that today's conference is being recorded. But I will now hand the conference over to your first speaker today, Chief Executive, Vince Hawksworth. Thank you, and please go ahead.
Good morning, everybody, and welcome to this presentation. I'm joined by William Meek, our Chief Financial Officer. I'll move through to Slide 3, which outlines the highlights of the first half of the FY '21 year. We've had a positive first half. That's largely been driven by a strong trading performance and by a lift in yields across all of our sectors. And at the same time, overcoming some headwinds due to continued low hydrology, which we continue to face into the future. Wholesale prices have remained elevated. And obviously, the New Zealand Aluminum Smelter decision has firmed those prices alongside the gas constraints and the hydrology that we have seen. But the positive
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