Infrastructure and utilities investor Infratil has reported a 23 per cent rise in earnings for the six months to September, with most of its investments showing gains for the period over the same time last year.
Wellington Airport and TrustPower were two good performers for Lloyd Morrison's company.
Infratil has reported earnings of $203m in the six month period to September 30, up from $166 million for the same period last year.
It declared a dividend of 2.5 cents per share, which is unchanged from last year, and is to be paid on December 15 to all shareholders on the register on December 5.
Earnings after interest, depreciation and amortisation of $67m, were up from $59m.
The net surplus after tax of $7.3m was down from $14.5m last year due to a $13.4m reduction in derivative valuations.
The company's investment in TrustPower contributed $136.7m against $116.2m last year.
Wellington Airport contributed $32.2m against $27.7m last year.
Infratil Energy Australia earned $28.1m, against $7.8m last year and NZ Bus contributed $17.8m against $20.8m last year.
The company said its return to shareholders was not satisfactory at negative 4 per cent, but global developments were clearly at play in determining Infratil's share price.
Infratil shares were trading today at $1.81, after reaching $2.96 a year ago.
