Infratil (ASX:IFT) downgrades earnings

Company News

by Katrina Bullock

Infrastructure investment company, Infratil (ASX:IFT), has reduced its full year underlying EBITDAF from continuing operations by $74 million as a result of the sale of Snowtown 2.

Infratil (ASX:IFT) owns a 65 per cent stake in Tilt Renewables which recently penned a deal to sell its Snowtown 2 wind farm for over $1.07 billion.

The sale is expected to complete in December 2019.

Infratil provides earnings guidance on a ‘continuing operations’ basis meaning that operations which are disposed of during the year are excluded from earnings guidance and this approach is applied for the entire year.

Shares in Infratil (ASX:IFT) are flat at $4.77.