KEPPEL Infrastructure Trust on Monday reported a flat total distribution per unit of 0.93 Singapore cent for the first quarter of financial year 2019.
KIT, being a business trust, is allowed to pay distributions to unitholders out of its retained cash and residual cash flows, in accordance with its distribution policy. The losses were despite an almost 100 per cent year-on-year increase in its revenue from S$160 million to S$318.5 million, largely driven by the consolidation of the newly acquired Ixom HoldCo in February, which contributed revenue of S$152.4 million. Further, there was a 38.3 per cent hike in other income from S$781,000 to S$1.1 million.
Loss per unit for the quarter was 0.41 Singapore cent, compared to an earnings per unit of 0.19 Singapore cent in the preceding year. Excluding the transaction cost, earnings per unit for 1Q FY19 would be 0.48 Singapore cent.
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