Wednesday 5 March 2008

Babcock & Brown Wind Net Profit A$3.2M

Dow Jones Newswires
Thursday 28/2/2008

SYDNEY (Dow Jones)--Australian wind farm developer Babcock and Brown Wind Partners Group (BBW.AU) said Thursday net profit for the six months to Dec. 31 was A$3.2 million, up from a revised loss of A$0.9 million a year earlier. Revenue for the global wind energy company increased by 57% to A$76.5 million from A$48.6 million, and it announced an interim distribution of 7.25 cents per unit, up from 6.25 cents a year ago.

Net operating cashflow fell to A$29.4 million from A$41.5 million, after the company spent A$360 million on three U.S. wind farms, A$318 million on wind farms in Australia and Europe and A$118 million on construction projects during the half year. Managed by international investment and advisory firm Babcock and Brown Ltd. (BNB.AU), which holds a 12% stake, Babcock and Brown Wind Partners owns and operates a portfolio of 76 wind farms across six countries with a total installed capacity of around 3,200 megawatts.

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