Infratil Swings to Fiscal H1 Profit, Posts Higher Revenue

MT Newswires Live11-13

Infratil (ASX:IFT, NZE:IFT) reported Thursday that it swung to a profit of NZ$0.621 in the fiscal first half from a loss of NZ$0.297 a year earlier.

Revenue for the six months ended Sept. 30 was NZ$1.99 billion, compared with NZ$1.48 billion a year earlier. Analysts surveyed by FactSet expected NZ$1.9 billion.

The company expects proportionate operational earnings before interest, taxes, depreciation, amortization, and fair value changes to remain unchanged at NZ$1 billion to NZ$1.05 billion on a like-for-like basis. After accounting for the divestments of RetireAustralia and Fortysouth, the updated guidance is NZ$960 million to NZ$1 billion.

The board declared an interim dividend of NZ$0.0725 per share, unchanged from the previous year, payable Dec. 16 to shareholders on record as of Nov. 27.

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