Infratil posts record $1.2b profit

Infrastructure investment company Infratil has posted a $1.23 billion full-year profit, a result it says is its largest on record. Chief executive Jason Boyes said the sale of Tilt Renewables delivered a significant gain of more than $1b, but the year also included investment of more than $1.4b in renewable energy, digital infrastructure and healthcare. In August, Infratil sold its 65% stake in renewable energy company Tilt Renewables for nearly $2b to a consortium of Queensland Investment Corp, AGL Energy, Australia’s Future Fund and Mercury Energy. Boyes said Infratil’s balance sheetwas strong with total available liquidity of $1.6b. Infratil shareholders will receive a final dividend of 12 cents per share.