Keppel Infrastructure Trust Q4 DPU flat at 0.93 Singapore cent

KEPPEL Infrastructure Trust (KIT) on Monday reported a distribution per unit (DPU) of 0.93 Singapore cent for the fourth quarter, unchanged from the year-ago period.

Profit attributable to unitholders rose by 25.4 per cent to S$9.6 million for the quarter, due mainly to higher contributions from City Gas. The latter, a producer and retailer of piped town gas, is a portfolio company of KIT.

Revenue for the quarter came up to S$158.1 million, nearly 4 per cent higher than the S$152.2 million last year. This was boosted by higher revenues from City Gas and Basslink. The latter, a portfolio company of KIT, owns and operates the Basslink Interconnector between the states of Victoria and Tasmania in Australia.

KIT's net asset value fell to 29.9 Singapore cents per unit as at Dec 31, 2017, down from 32.5 cents in the previous year. This was primarily attributable to distributions to unitholders, as well as marked-to-market movements of derivative financial instruments.