NZ's Infratil nine month net profit falls sharply

WELLINGTON, Feb 19 (Reuters) - New Zealand utilities investor Infratil Ltd. (IFT.NZ: Quote, Profile, Research, Stock Buzz) on Tuesday posted a profit less than a tenth of a year ago for the nine months to Dec 31, due to a lack of asset sales in the previous period.

Infratil's profit after tax was NZ$4.1 million ($3.3 million) for the period, compared with a figure boosted by asset sales of NZ$62.4 million a year earlier.

Shares in Infratil closed up 2.5 percent at NZ$2.50, after trading between NZ$2.31 and NZ$3.25 over the past year.

The company has a majority stake in power company TrustPower, (TPW.NZ: Quote, Profile, Research, Stock Buzz) and owns Glasgow Prestwick, Kent International and Lubeck airports, two-thirds of Wellington International Airport and a small stake in Auckland International Airport Ltd (AIA.NZ: Quote, Profile, Research, Stock Buzz).

Its other investments include New Zealand Buses Ltd, the country's biggest public transport provider, stakes in Australian power generators and retailers, and small stakes in Port of Tauranga (POT.NZ: Quote, Profile, Research, Stock Buzz), and energy explorer Austral Pacific (APX.NZ: Quote, Profile, Research, Stock Buzz). ($1=NZ$1.26)