Babcock & Brown Power Provides Amendment to FY09 Post-Tax Result (BBP.AX, 00990472, 20090922)

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Babcock & Brown Power Provides Amendment to FY09 Post-Tax Result
Tuesday September 22, 2009, 4:24 pm

Original Announcement: Amendment to FY09 Post-Tax Result

Babcock & Brown Power reported that subsequent to the release of the Appendix 4E, considerable further work has been performed in conjunction with BBP's external auditors. This work has now clarified the tax treatment of an unwind of onerous contract provisions that were created on the acquisition of Alinta. This clarification increases the income tax expense line of the Income Statement by $20m. As a result, BBP's post-tax loss increases from $149m to $169m. This change has no impact on either cashflow or on the EBITDA, headline or normalised, that was announced on 28 August 2009.

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