August 9, 2010 / 10:03 PM / 7 years ago

UPDATE 1-Macquarie Power & Infrastructure Q2 FFO falls 24 pct

* Q2 FFO down 24 pct to C$5.7 mln

* Q2 revenue up 9 pct

* Electricity production up 7.4 pct

Aug 9 (Reuters) - Canada’s Macquarie Power and Infrastructure Income Fund MPT_u.TO posted a 24 percent fall in quarterly funds from operations, hurt by higher administrative expenses.

The trust also cut its quarterly distribution by 37 percent to 16.5 Canadian cents per unit, but said the new distribution policy is expected to be sustainable through 2014.

For the second quarter, the trust reported funds from operations of C$5.7 million, compared with C$7.5 million a year earlier.

The trust, which has investments in power infrastructure assets, including gas cogeneration, wind, hydro and biomass power generating facilities, said revenue rose 9 percent to C$35.5 million.

The fund said administrative expenses more than doubled during the quarter, while electricity production was up 7.4 percent at 492,336 megawatt-hours(MWh).

Units of the trust closed at C$6.98 Monday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Anne Pallivathuckal)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below