Infratil's half year profit has slipped but the company says it is well placed to handle the ongoing market volatility.
The listed infrastructure investor reported an after tax profit of $89 million in the six months to the end of September - 12% less than the $101 million it made in the same period a year earlier.
Pre-tax earnings rose 7% to $273 million. Trustpower contributed 60% of that, its Australian energy business 17%, Wellington Airport 13%, and the rest came from NZ Bus and Z-Energy.
Infratil chief executive Marko Bogoievski says it's a solid result, given the challenging environment, weak demand and volatile financial markets.
"The underlying performance of the business was actually quite a strong gain on the previous year and the nice part was that it was spread across a number of businesses," he told Evening Business on Checkpoint.
"So really we've got a portfolio now that's about as well configured as you would like going into what I think could be quite a difficult next 12 or 18 months."
Mr Bogoievski says despite market volatility, full year earnings are expected to be between $460 million and $490 million, compared with $443 million in 2011.