Written by The Edge
CitySpring Infrastructure Trust says the group achieved consolidated cash earnings of $17.8 million for the three months ended 30 June 2010 (1Q FY11), representing a 28.4% increase from $13.9 million in 1QFY10.
And in line with its distribution per unit (DPU) target for FY2011, the trust has declared a DPU of 1.05 cents for the quarter,.
City Gas’ cash earnings was $13.1 million in 1QFY11. Growth in gas volume sold has been supported by Singapore’s hospitality and food and beverage sectors. Examples include the integrated resorts and the opening of new outlets in a number of recently established retail complexes along the Orchard Road area.
CitySpring’s desalination plant, SingSpring, has continued to achieve 100% availability and delivered cash earnings of $4.1 million in 1QFY11.
Basslink reported cash earnings of A$2.5 million ($3.1 million). This was the result of an unplanned outage in April 2010 and lower commercial risk sharing mechanism payment.
However, Basslink will recover the facility fee deducted for the April outage if it does not experience another major outage during the rest of the calendar year.
There was also positive contributions from Basslink Telecoms which has just reached its first anniversary of full commercial operation.
