Infratil to see rise in operating earnings by 12 percent
As per media reports, a rise in operating earnings would be witnessed in Infratil Ltd., a New Zealand investor in airports, energy and buses by as much as 12 percent in the current year. This would happen since the company pays less and has paused new investment.
A statement by the Wellington-based company read that in the year ending March 31, 2010, earnings before interest, tax, depreciation, amortization and revaluation of financial assets will be between NZ$375 million ($219 million) and NZ$400, marginally higher compared to NZ$356 million in the year-earlier period.
In a filing to the New Zealand stock exchange, the company said that surplus assets would be sold by Infratil and it is mulling to pause its discretionary investment unless the opportunity is compelling and perishable. It was put forward by the company that it will concentrate on ensuring existing businesses provide satisfactory returns.
In October, Infratil's stake in Lubeck airport, Germany, will likely be sold for a sum of NZ$64 million under an option agreement.
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