Trustpower boosts Infratil earnings

Infratil lifted first-half profit 16 per cent as the infrastructure investor’s earnings were buoyed by a strong result from electricity generator and retailer Trustpower. Net profit attributable to shareholders rose to $33.4 million, or 6c per share, in the six months ended September 30, from $28.9m, or 5.1c, a year earlier, the Wellington-based company said. Revenue slipped 3.7 per cent to $935.7m reflecting declines in its NZ Bus and Perth Energy operations, however earnings before interest, tax, depreciation, amortisation and fair value adjustments climbed 18 per cent to $291.3m.