Keppel Infrastructure Trust Q4 DPU unchanged despite drop in earnings

Singapore

KEPPEL Infrastructure Trust, which runs Singapore's sole producer and retailer of town gas and other utilities plants, posted a distribution per unit of 0.93 Singapore cent for the fourth quarter, unchanged from a year ago.

This was in spite of a 11.6 per cent fall in its net profit to S$7.7 million compared with the previous year, no thanks to a time lag in the adjustment of gas tariffs to reflect actual fuel cost, as well fair value losses from financial derivatives.

As a result, earnings per unit dipped to 0.2 Singapore cent from 0.22 Singapore cent in…