Infigen Energy posts higher production and revenue

Company News

by Jessica Amir

Infigen Energy (ASX:IFN) has announced higher production and revenue for the second quarter of the 2017 financial year, on the back of better winds in New South Wales and South Australia.

The renewable energy company's production increased by 25% compared to the prior corresponding period.

As a result its revenue increased to $52.4 million (for Q2 FY2017), a rise of 22% compared to the prior corresponding period.

Based on its higher performance, Infigen says EBITDA for the 2017 financial year will be around $140 million.

On top of that, it’s expecting a $4 million profit from the sale of the Manildra solar development project.

Infigen Energy (ASX:IFN) reported a net profit of $4.49 million at 30 June 2016.
 

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?