APA Group FY profit soars

APA Group (APA) says its recent acquisitions will enable continued growth in the coming year, as it reported a rise in full-year profit.

The gas and infrastructure group’s statutory net profit for the 12 months to June 30 lifted 129% to $298.8 million, largely on the back of one-off items related to its Hastings Diversified Utilities Fund purchase.

Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at $768.8 million, in the middle of the company's guidance for between $755 million and $770 million.

Net profit before significant items rose to $179 million, up 27.4% from the previous corresponding period and in line with analyst estimates.

Meanwhile, statutory revenue for the year grew 20 per cent, to $1.27 billion.

The group will pay a final distribution of 16.02 cents, bringing total distributions for the year to 30.76 cents.