Jamie Gray

Jamie Gray is a business reporter for the New Zealand Herald and APNZ wire agency

Profits up 6pc at Infratil

Wellington Airport, part of Infratil's investment portfolio. File photo / Mark Mitchell
Wellington Airport, part of Infratil's investment portfolio. File photo / Mark Mitchell

Listed infrastructure investor Infratil said its net profit rose by 6 per cent to $127.0 million in the year to March 31, well ahead of the company's own forecast.

Infratil announced a final dividend of 5c a share, up 18 per cent on the previous final dividend.

The company said strong momentum in the second half carried its earnings before interest, tax, depreciation, amortisation and movements in the value of financial derivatives (EBITDAF) to $520m, up from $471m in the previous year.

The result compares with Infratil's own forecast last year of EBITDAF of $460m to $490m.

For the current 2012/13 year, Infratil forecast EBITDAF of $530m to $560m.

The company's adjusted group profit, which removes the impact of fair value gains on acquisitions, revaluations, changes to tax rates, and discontinued operations, was $134m, up 12 per cent on the previous year's

The dividend brings the total dividend for the year to 8.0c per share, up from 6.75c previously.

The company, which owns just over half of power generator and energy retailer, TrustPower, said the year had been one of "disciplined growth".

Along with TrustPpower, Infratil either owns or has big holdings in Wellington Airport, NZ Bus and Z Energy, and has energy assets in Australia.


- NZ Herald

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