APA Group (ASX: APA)- APA reported 11.8% profit growth amidst pending acquisition by CKI

  • Aug 22, 2018 AEST
  • Team Kalkine
APA Group (ASX: APA)- APA reported 11.8% profit growth amidst pending acquisition by CKI

APA Group today, 22 August 2018, announced net profit after tax of $264.84 million, up 11.8% on previous year results. In a solid full year results release, APA reported an increase of $53.1 million to $1.94 billion in group’s revenue supported by contributions from newly commissioned assets, new contracts on APA’s East and West Coast Grid and favorable change in exchange rates change.

Earnings before interest, tax, depreciation and amortization for the year ending 30 June 2018 increased 3.3% to $1.52 billion compared to previous year result of $1.47 billion.

APA Group engaged in energy infrastructure business reported capital and investment expenditure of $875.5 million during the year. Gearing down to 65.4%

APA Chairman, Mr Michael Fraser said, “APA’s FY2018 results, reflect our continued focus on working with all our stakeholders to develop energy infrastructure that reliably, affordably and sustainably delivers energy across our vast country.”

In this year company has increased its distribution payout ratio to 51.5%, declaring final distribution of 24.0 cents per security in line with the estimate delivering a total distribution for FY2018 of 45.0 cents per security, up 3.4% on prior year. Franking credit totaled to 6.33 per security for FY18.

In APA’s guidance for FY2019, EBITDA is forecasted to be between $1.550 million and $1,575 million and net interest costs in the range of $500 million to $510 million. Total distribution per security is expected to be in order of 46.5 cents per security, if CKI’s acquisition deal does not goes through.

APA stock continues to rise as share price increased 0.645% to $10.145 on Wednesday, 22 August 2018.

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