Infratil FY net profit drops to $3.4 mln on UK writedowns, accounting charges

Infratil FY net profit drops to $3.4 mln on UK writedowns, accounting charges
May 14 (BusinessDesk) – Infratil, which is mulling the float of its Z Energy chain of petrol stations, reported a drop in full-year profit after writing down the value of its UK airports and recognising accounting charges. Net profit fell to $3.4 million in the year ended March 31, from $51.6 million a year earlier, the Wellington-based company said in a statement. Operating revenue rose to $2.37 billion from $2.17 billion. The drop in net profit reflects $62.4 million in costs and writedowns associated with its two UK airports, which it is...