SINGAPORE - Keppel Infrastructure Trust (KIT) reported a drop in revenue for the second quarter, but distribution per unit remained unchanged.
Revenue in the three months to June 30 was down 10.2 per cent year-on-year to S$137.35 million, but was up 0.5 per cent for the half year to S$268.6 million with the inclusion of contributions from the Crystal and KMC acquisitions.
As a result, profit attributable to unitholders surged from S$4.13 million to S$16.57 million in the second quarter, with a DPU of 0.93 cents, unchanged from a year ago.
"Gearing as at June 30 was 36 per cent compared to 35 per cent as at Dec 31 2015 as the Trust drew down loans to repay one of its subsidiaries and to fund the boilers upgrade for Senoko WTE plant," KIT said in its results announcement on Monday (July 18).
KIT units rose half a cent or 0.99 per cent to 51 cents ahead of the announcement.