SINGAPORE (Oct 16): The trustee-manager of Keppel Infrastructure Trust (KIT) declared a DPU of 0.93 cents for 3Q18 ended Sept, unchanged from a year ago. This brings 9M18 DPU to 2.79 cents.

Earnings for 3Q18 fell 47.4% to $8.2 million while 9M18 earnings fell 69.5% to $11.6 million mainly due to lower contribution from City Gas due to the time lag in the adjustment of gas tariffs to reflect actual fuel cost, lower revenue at Basslink as a result of the March service outage and higher fair value loss of financial derivative instruments recognised.

Group revenue for 3Q18 was $162 million, bringing total revenue recognised in 9M18 to $465.2 million, 1.9% lower than 9M17.

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