Earnings  before  interest,  tax,  depreciation,  and  amortisation  (EBITDA)  increased  by  3.5  per  cent  to  $460  million  despite  the  loss  of  earnings  from  assets  sold  to  Energy  Infrastructure  Investments  in  the  2009  financial  year.   Operating  cash  flow  per  security  increased  by  7.7  per  cent  to  51.9  cents  per  security.  

Directors  confirmed  their  advice  of  21  June  2010,  declaring  a  final  distribution  of  17.0  cents  per  security  bringing  total  distributions  for  the  full  financial  year  to  32.75  cets  per  security,  a  5.6  per  cent  increase  on  last  year  and  achieving  guidance  of  at  least  5  per  cent  growth  in  distributions.   Distributions,  as  in  previous  years,  will  be  funded  out  of  operating  cash  flow,  with  this  year’s  payout  ratio  being  64.4  per  cent.  

Net  profit  increased  by  27.4  per  cent  to  $100  million,  a  result  that  is  consistent  with  last  year’s  net  profit  before  the  significant  items  which  were  largely  associated  with  the  Enrgy  Infrastructure  Investments  transaction.  

APA  Group  Managing  Director  Mick  McCormack  said  the  result  reflects  the  sustainable  and  profitable  growth  of  APA’s  business.   The  increased  performance  was  principally  due  to  the  sale  of  additional  pipeline  capacity  from  recent  expansions.  

"During  our  10‐year  history  we  have  established  an  unrivalled  portfolio  of  gas  transportation  and  distribution  assets  across  the  country,  and  again  this  year,  as  in  the  past,  we  expanded  and  extended  that  portfolio,"  he  said.  

During  the  year  APA  commenced  or  continued  more  than  $200  million  of  expansion  projects,  mainly  focused  on  increasing  capacity  on  pipelines  in  New  South  Wales  and  Victoria.   APA’s  considerable  internal  operations  and  commercial  capability  is  being  used  to  develop  and  manage  these  projects.