[February 07, 2006] Notable year for Infrastructure investment company Infratil following acquisition of Stagecoach NZ Tweet (IRN News Via Thomson Dialog NewsEdge)Infrastructure investment company Infratil says the last year has been one of the most notable in its history. In the year to December, Infratil acquired transport company Stagecoach New Zealand, and broadened its European airport operation with the addition of Kent and Luebeck airports to Glasgow Prestwick. The company says the acquisitions have resulted in an approximate 20 percent increase in the company's assets. Short term costs associated with making these investments have impacted reported results. For the nine months to December, Infratil's EBITDA increased 6% to $49.8 million, but higher start up costs and losses associated with the new acquisitions resulted in operating profit after tax declining to $13.1 million from $20.2 million in 2004. Infratil has assumed further debt as a result of this year's investments, which is a mixture of Bond and bank funding. Infratil expects its core mature investments to continue to perform well and the company says considerable effort will be made to build activity and value at the new investments. [ Back To TMCnet.com's Homepage ]