13 Nov 2012

Half year loss posted by Infratil

12:38 pm on 13 November 2012

Infratil has posted a half year loss after revaluations and writedowns, but is confident it will meet its full year targets.

The infrastructure investor, which has stakes in Wellington Airport, TrustPower and Z Energy, reported a loss of $17 million in the six months to the end of September.

This result is down from about $50 million last year, after a write down in the value of two airports in Britain.

Pre-tax earnings rose 7% to $295 million, led by a pick up in TrustPower, Infratil Energy Australia and Wellington Airport.

Chief executive Marko Bogoievski said it is an impressive result given current economic conditions.

He said full year earnings are expected to be between $530 - $560 million.