Australian Infrastructure Fund

Australian Infrastructure Fund’s interim result reflects Australia’s two-speed economy. Underlying revenue increased 8.1% to $141m, and operating earnings increased 7.0% to $93.4m. Proportionate earnings, which incorporate interest, tax and maintenance capital expenditure costs, increased 17.2% to $47m. That’s equal to earnings per security of 7.6 cents for the half-year. The unfranked interim distribution was kept flat at five cents (ex date already passed), putting the stock on a 4.9% distribution yield. Perth Airport was the hero, producing a 9.4% increase in operating profit to $103m. Passenger growth also increased 8.7%, as Western Australia continues to lead the resources boom....

Australian Infrastructure Fund’s interim result reflects Australia’s two-speed economy. Underlying revenue increased 8.1% to $141m, and operating earnings increased 7.0% to $93.4m. Proportionate earnings, which incorporate interest, tax and maintenance capital expenditure costs, increased 17.2% to $47m. That’s equal to earnings per security of 7.6 cents for the half-year. The unfranked interim distribution was kept flat at five cents (ex date already passed), putting the stock on a 4.9% distribution yield.

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