Cityspring Infrastructure Trust reports flat DPU growth in fiscal Q2

CITYSPRING Infrastructure Trust on Monday reported a distribution per unit (DPU) of 0.82 Singapore cents for its fiscal second quarter. This is unchanged from the same period a year ago, and is in line with annual DPU guidance for fiscal 2015.

The trust said it recorded cash earnings of S$13.8 million for the three months ended Sept 30, 2014, compared to S$14 million a year ago. A dip in the cash earnings from City Gas - sole producer and retailer of town gas in Singapore - was nearly offset by gains from its SingSpring, Basslink, and CityNet assets.

SingSpring owns Singapore's first large-scale seawater desalination plant, Basslink owns and operates an electricity interconnector between the electricity grids of the states of Victoria and Tasmania in Australia, and CityNet charges its customers for access to Singapore's telecommunications infrastructure assets.