Profit at Keppel Infrastructure Trust falls 10.2% in 2014

SINGAPORE - Lower production of Newater, and a decline in power tariffs from plunging oil prices, resulted in a weaker full-year showing at Keppel Infrastructure Trust (KIT).

The business trust reported earnings of $12.7 million for year ended Dec 31, down 10.2 per cent compared with the previous financial year.

Revenue for the year declined 2.5 per cent to $65.5 million.

The trust declared a distribution per unit of 4.69 cents for the July to December period.

The underlying performance of the three assets in the trust's portfolio is expected to remain stable, the trustee-manager said in a statement on Monday. All three assets have long-term concession agreements with Singapore statutory bodies.