Snippets Corner: 22 January 2010 – MIG, PWK
January 21, 2010
Macquarie Infrastructure Group (MIG) said its portfolio valuation as at 31 December 2009 is $5.08 billion compared with $5.09 billion at 30 June 2009. The group made the announcement ahead of the completion of its Restructure Proposal. MIG said the valuation excludes cash and non-investment balances. The group said the strengthening of the Australian dollar against Macquarie Atlas Roads (“MQA”) portfolio currencies resulted in a decrease in the value of the proposed MQA portfolio of approximately 10%, with the remaining marginal decline reflecting other factors.
PIPE Networks Limited (PWK) posted a consolidated profit after tax of $16.6 million for the half-year ended 31 December 2009, up 201% on the previous half-year result of $5.5 million. The company said revenue from continuing operations for the half-year grew 130% to $55.4 million, up from $24.1 million for the same period in 2008. PIPE said significant revenue was realised from Indefeasible Rights of Use contracts with customers in relation to PIPE Pacific Cable 1, the company's submarine cable system from Sydney to Guam, which was commissioned in October 2009. The company said demand for domestic products was strong with consecutive quarters of record recurring revenue growth during the half year. PIPE said EBITDA for the half-year was $35.1 million, up from $9.3 million at HY08, while cash flows increased from $19 million a year ago to $38.5 million for the half year.
PIPE Networks Limited (PWK) posted a consolidated profit after tax of $16.6 million for the half-year ended 31 December 2009, up 201% on the previous half-year result of $5.5 million. The company said revenue from continuing operations for the half-year grew 130% to $55.4 million, up from $24.1 million for the same period in 2008. PIPE said significant revenue was realised from Indefeasible Rights of Use contracts with customers in relation to PIPE Pacific Cable 1, the company's submarine cable system from Sydney to Guam, which was commissioned in October 2009. The company said demand for domestic products was strong with consecutive quarters of record recurring revenue growth during the half year. PIPE said EBITDA for the half-year was $35.1 million, up from $9.3 million at HY08, while cash flows increased from $19 million a year ago to $38.5 million for the half year.
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