6 Sep 2011
Infratil Monthly Operational Report August is available here.
Infratil's Annual Meeting was held in Auckland on Monday 15th August. Marko Bogoievski provided an update on the Company’s strategy and current performance, the presentation is available here.
After the first four months of the financial year he was able to confirm that the 2011/12 earnings guidance remained on track (normalised EBITDAF in the range of $460-$490 million, 4% to 11% higher than last year). Incremental improvements are expected at TrustPower, Wellington Airport, NZ Bus & Z Energy and a slightly lower contribution from Infratil Energy Australia. The increased earnings are mainly due to the previous investment in the Kwinana, Port Stanvac and Mahinerangi power stations and Z Energy’s new retail offers and growth.
At the Annual Meeting shareholders approved Infratil’s manager H.R.L. Morrison & Co. acquiring a further 2.5% of the Company on market and that Infratil undertake a share buyback if it is “in the best interests of the company and the remaining shareholders."
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