WELLINGTON, Nov 17 (Reuters) - New Zealand infrastructure investor Infratil Ltd. on Monday reported a halving in first half net profit, because of a fall in derivative values.
Infratil's profit after tax was NZ$7.3 million ($4 million) in the six months to Sept. 30, compared with NZ$14.5 million a year earlier.
Infratil shares last traded down 1.1 percent or two cents at NZ$1.82. So far this year the stock has lost 35 percent compared with a 31 percent drop in the benchmark NZSX-50 index.
The company declared an unchanged dividend of 2.5 cents.
The company has a majority stake in power company TrustPower, and owns Glasgow Prestwick, Kent International and Lubeck airports, two-thirds of Wellington International Airport and a small stake in Auckland International Airport Ltd.
Its other investments include New Zealand Buses Ltd, the country's biggest public transport provider, and stakes in Australian power generators and retailers.
($1=NZ$1.81) Keywords: INFRATIL/RESULTS (Wellington newsroom tel 64 4471 4234, fax +64 4 4736 212, wellington.newsroom@reuters.com) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Infratil's profit after tax was NZ$7.3 million ($4 million) in the six months to Sept. 30, compared with NZ$14.5 million a year earlier.
Infratil shares last traded down 1.1 percent or two cents at NZ$1.82. So far this year the stock has lost 35 percent compared with a 31 percent drop in the benchmark NZSX-50 index.
The company declared an unchanged dividend of 2.5 cents.
The company has a majority stake in power company TrustPower, and owns Glasgow Prestwick, Kent International and Lubeck airports, two-thirds of Wellington International Airport and a small stake in Auckland International Airport Ltd.
Its other investments include New Zealand Buses Ltd, the country's biggest public transport provider, and stakes in Australian power generators and retailers.
($1=NZ$1.81) Keywords: INFRATIL/RESULTS (Wellington newsroom tel 64 4471 4234, fax +64 4 4736 212, wellington.newsroom@reuters.com) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.