big qty of buyers, page-13

bbi results good! cash flow of 7.22 c eps for Dec 05 is outstanding!
This lives up to prediction of "not less than 6.5c".
However, included in the result is one-off capital gain in BBW and 8 mil insurance payout, so l doubt if dist of above 7c could be maintained.
Market seems to like it - up to 1.58 this am. Quote:

"Babcock & Brown Infrastructure (ASX: BBI) today announces its interim result for the six months to 31 December 2005, which saw EBITDA and operating cash flow per security significantly improve. Earnings before Interest, Tax and Depreciation (EBITDA) for the six month period to 31 December 2005 was $221.2 million, compared to $177.7 million (a 23.6% increase) for the six month period to 30 June 2005 and $55.3 million for the six months to 31 Dec 2004. Operating cash flow per security increased to 7.22 cents per security for the six months to 31 December 2005 from 6.33 cents per security (a 14% increase) for the six months to 30 June 2005 and 5.56 cents per security (a 30% increase) for the 6 months to 31 December 2004. The strong result and significant improvement from the previous corresponding period was aided by the EBITDA contribution from recent acquisitions, with a full six month contribution from Powerco of $100.6m (only 2 month contribution of $22.4 million in previous corresponding period) and IEG of $21.4 million (IEG was not included in the portfolio in the period to 31 December 2004). The current period result also includes the significant increase in the value of BBI’s investment in Babcock & Brown Wind Partners (BBW) following the listing of BBW in October 2005 and the expected minimum insurance proceeds ($8.5 million) from the claim associated with the reclaiming machine RL1 at DBCT, following the High Courts decision on Friday 10 March 2006 to reject the insurers’ application for leave to appeal the decision handed down by the Queensland Court of Appeal. “Significant security holder wealth has been created as a result of the successful implementation of BBI’s strategy”, said Mr Steven Boulton, CEO of BBI. “This strategy involves disciplined adherence to our investment criteria. Our focus is on securing essential infrastructure assets with high revenue certainty that are attractive in terms of both cash yield and total return, with manageable operating risks and that operate in supportive regulatory environments."