Babcock & Brown Public Partnership Ltd. (BBPP.L), Monday said its earnings from continuing operations for the year 2008 declined from last year, hurt by increase in expenses. Revenues for the year, however, increased from last year. Babcock & Brown said a new, independent company Amber Infrastructure Group Limited had entered in to an agreement with it to acquire BBPP Fund Management Ltd .The company also revealed plans to change its name.
Babcock & Brown's earnings from continuous operations for the full year 2008 declined to 2.85 pence per share from 5.20 pence last year.
Profit before taxes for the full year, however, improved to GBP 12.24 million form GBP 11.26 million a year ago, while profit after taxes for the full year sharply declined to GBP 8.82 million from GBP 15.61 million a year ago.
For the full year, profit attributable to equity holders of the parent also declined to GBP 10.02 million or 2.85 pence per share from GBP 15.61 million or 5.20 pence per share last year.
Revenues for the full year soared to GBP 224.855 million from GBP 131.247 million last year.
Finance costs for the full year 2008 increased to GBP 72.12 million from GBP 25.431 million last year, while operating expenses increased to GBP 18.891 million from GBP 17.124 million in the previous year. Administrative expenses for the full year also increased to GBP 2.461 million from GBP 1.461 million last year.
Investment income for the full year increased to GBP 83.510 million from GBP 44.251 million in the previous year, while other gains and losses were GBP 7.574 million, up from GBP 1.604 million a year ago.
Share of results from associates were GBP 3.306 million, compared to share of results of GBP 2.016 million a year ago and other operating income for the full year was GBP 761 thousand, up from GBP 415 thousand in the previous year.
The company said net Asset Value per share as of December 31 was 115.2 pence, higher than 110.1 pence a year ago.
Further, Babcock & Brown Public Partnership revealed its intention to change its name from Babcock & Brown Public Partnerships Limited to International Public Partnerships Limited, subject to shareholder approval.
Babcock & Brown Public Partnership also said Amber Infrastructure Group Limited has entered into a conditional agreement with it to acquire BBPP Fund Management Limited which will itself acquire the rights to provide the advisory and management services to BBPP that were previously supplied by Babcock & Brown Investment Management Limited. The agreement is subject to shareholder approval and all other necessary approvals, which Amber group should get.
Looking forward to the next year, Keith Dorrian, Chairman of the Board, Babcock & Brown Public Partnership said, "In the longer term, the Board believes that the Company's portfolio and pipeline of public infrastructure investments will continue to provide attractive income and capital growth characteristics with the additional benefit of non correlated diversification. The Company's approach to acquisitions and asset management also has the potential to add additional value to shareholders over the long-term."
BBPP.L is currently trading at $87.00, up $1.00 or 1.16%, on a volume of 1.280 million shares on the LSE.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.