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Investment firm Babcock & Brown (B&B) has upgraded its earnings forecasts for 2007 because of strong performances in its infrastructure, operating leasing and real estate division. B&B says it now expects earnings per share (EPS) to grow by almost 30 per cent in the year, from an earlier forecast of at least 20 per cent.
The new forecast would translate to a group net profit of A$550 million ($628 million), up 35 per cent on the 2006 result, it said. However, B&B Infrastructure's A$2.8 billion takeover of US utility NorthWestern hit a hurdle this week after a regulator appeared to have turned its back on the deal.
