A growth in revenue despite challenging economic conditions has seen utility owner Spark Infrastructure record a 12.8 per cent rise in regulated revenue for the 2012 fiscal year.
Spark Infrastructure reported regulated revenue of $1.6 billion for the 12 months to December, and a net profit of $173.9 million for the 2012 financial year.
It was a 4.1 per cent increase from the year before, achieved on the back of strong results from SA Power networks, and CitiPower and Powercor, the company said.
The utility owner declared a final dividend of 5.25 cents per share for the 2012 year.
‘‘Despite a challenging business environment with soft electricity sales volumes, the asset companies have again demonstrated the strength and quality of their operations,’’ Spark Infrastructure managing director Rick Francis said.
‘‘The cashflows being generated by the asset companies are sufficient to simultaneously fund the substantial equity portion of their capital expenditure plans, to de-gear their balance sheets and to make distributions to their shareholders, without the need for any new equity before 2015.’’
Shares were up 2.3 per cent to $1.677 in early trade.