Toll road operator Macquarie Infrastructure Group
(ASX:MIG) has reported a net loss for the year to June 30, and says it is considering splitting its portfolio into two ASX listed companies.
Net loss for the 12 months to June 30 came to $1.71 billion down from a profit of $767.3 million in fiscal 2008.
The company says the loss reflects the impact of revaluations of the road businesses in the portfolio.
The company has been undertaking a detailed review of its strategic options, including further asset sales, raising capital for selective early de-leveraging of assets, and other capital management alternatives.
Macquarie says a significant outcome of the review at this point, is that the board has asked management to assess the risks involved in restructuring and splitting the company’s current portfolio into two separate ASX listed vehicles.
Looking back at the last five years Macquarie Infrastructure Group’s best net profit was in 2007, recording over $1.7 billion.
