Infratil posts $80.5 million F/Y profit

The result was up sharply on last year's $16.5 million figure.

Infratil will pay a dividend of three cents per share on June 28.

Shares in Infratil were up a cent at $1.90 by 10.10am.

Excluding extraordinary items worth $57.96 million, Infratil's net surplus was $22.57 million, up 36 percent.

The company, which has holdings in TrustPower, Wellington International Airport and Glasgow Prestwick International Airport, also announced it would buy back up to 2.5 million of its shares on market, beginning on June 7.

Earnings before interest, tax, depreciation and amortisation (ebitda) were $40.63 million up from $35.55 million a year earlier.

The result includes the equity accounting of TrustPower and the consolidation of Infratil's Wellington and Glasgow holdings for the first time, making comparison with past performance difficult.

But, on the key measure of growth in asset values, Infratil was well placed to continue to deliver above average returns to its shareholders, the company said.

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