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- Release Date: 13/05/14 11:48
- Summary: FLLYR: IFT: Infratil Results for Year Ended 31 March 2014
- Price Sensitive: No
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IFT
13/05/2014 09:48
FLLYR
REL: 0948 HRS Infratil Limited
FLLYR: IFT: Infratil Results for Year Ended 31 March 2014
-Net parent company surplus for the year was $199 million ($3 million the
prior year). Net consolidated operating cash flow was $407 million, up from
$288 million.
-A final dividend of 7.0 cents per share (6.0 cents prior year) will be paid
on 16 June to shareholders on the register on 29 May. Infratil has the goal
of providing shareholders with growing tangible returns and over the last 4
years the annual dividend has increased from 6.25 cps to this year's
10.75cps. The dividend reinvestment plan will not operate on this occasion.
-Infratil and its 100% subsidiaries ended the period with $1,062 million of
net debt, down from $1,276 million a year prior.
-To drive future earnings and value growth the group committed $616 million
of capital to new investments, bringing the five year total to $1,973
million.
The investment undertaken and the plans for further investment are expected
to drive future earnings and value growth. This is also related to a strategy
of asset rejuvenation and providing proof of value.
Next year is expected to be at least as active as the last and will include a
review of Lumo Energy and Direct Connect to compare a continuation of the
current organic growth plans against inorganic merger/acquisition options and
against divestment.
The growing New Zealand economy will drive demand for transport and energy
and it is expected there will be increasing private provision of
infrastructure on both sides of the Tasman.
Guidance for FY2015 earnings before interest, tax, depreciation, amortisation
and fair value movements is that it will be between 6% and 12% higher than
last year's $500 million.
End CA:00250373 For:IFT Type:FLLYR Time:2014-05-13 09:48:01
