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Keppel Infrastructure Trust posts same Q2 DPU as a year ago

Monday, July 18, 2016 - 18:49
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KEPPEL Infrastructure Trust on Monday posted a second-quarter distribution per unit (DPU) of 0.93 Singapore cents, on a par with what it paid out a year ago.

KEPPEL Infrastructure Trust on Monday posted a second-quarter distribution per unit (DPU) of 0.93 Singapore cents, on a par with what it paid out a year ago.

Revenue fell 10.2 per cent to S$137.4 million due to its City Gas unit contributing less as town gas tariffs decreased with lower fuel prices. Revenue from another unit, Basslink, also fell because it was not earning facility fees as a result of the outage between Dec 20, 2015 and June 13, 2016, following a cable fault. Revenue resumed after.

Basslink owns and operates the Basslink Interconnector, which is a 370 km high voltage, direct current monopole electricity interconnector between the electricity grids of the states of Victoria and Tasmania in Australia.

Net profit attributable to unitholders grew fourfold however to S$16.6 million, due to lower expenses and higher other income being recognised. Other income included insurance compensation recognised from Basslink's cable fault.

The counter rose half a cent to S$0.51 on Monday.

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