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- Release Date: 12/11/13 10:34
- Summary: HALFYR: IFT: Infratil Results for Half Year to 30 September 2013
- Price Sensitive: No
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IFT
12/11/2013 08:34
HALFYR
REL: 0834 HRS Infratil Limited
HALFYR: IFT: Infratil Results for Half Year to 30 September 2013
2013 has been extraordinarily busy. Infratil has divested, invested, and
introduced a new channel for future investment into Australian
infrastructure. It faced some taxing regulatory challenges and threats, and
has been active in hedging and risk management. A new form of share buyback
was announced and then postponed. And the weather played a part with warm
winters in Australia and New Zealand reducing household energy use, while
storms closed Wellington Airport for more time than in any single year since
the 1970s.
The half year was also Infratil's last period with David Newman as Chairman.
David passed away in October; his integrity and long term vision have left an
indelible impression and he will be greatly missed. Mark Tume has been
appointed by the board to be David's successor as Infratil's Chair.
Financial Results / Capital Management
Net parent company surplus for the six months was $230 million (from a $17
million loss in the same period last year). Net consolidated operating cash
flow was $275 million, up from $106 million.
An interim dividend of 3.75 cents per share (from 3.25 cents) is declared.
The increase reflects Infratil's higher cash earnings, sound financial
position and the goal of providing shareholders with growing tangible
returns. The dividend will be paid on 13 December to shareholders on the
register as at 29 November. The dividend reinvestment plan will operate.
End CA:00243656 For:IFT Type:HALFYR Time:2013-11-12 08:34:53
