K-Green posts net profit of $9.57m for 2010

By LYNN KAN


K-GREEN Trust posted net profits of $9.57 million, for the full year ended December 31, 2010.

Profits after tax for the green infrastructure assets trust since its listing on June 29 to Dec 31 was $8.7 million, 22.1 per cent higher than forecast.

Full-year revenue was $65.8 million, while revenue garnered since listing was $49.3 million. The latter is 22.1 per cent lower than the forecast of $63.3 million, mainly due to lower contributions from a delay in flue gas upgrading works for K-Green's Senoko Plant.

Distribution per unit for the full year was 4.31 cents, 10.2 per cent higher than K-Green's forecast of 3.91 cents.