The company also reported a 48.2% rise in underlying operating cash flow to A$109.3 million driven by contributions from recent acquisitions in the first half of 2007.
Contributions from the GasNet business and the APT Allgas gas distribution business in Queensland, Australia, were primary drivers of an 82.1% rise in total revenue to A$443 million, the company said.
Mick McCormack, managing director of APA, said: APA expects underlying EBITDA, including the Envestra distributions, for financial year 2008 to be in the range of A$400 million to A$410 million, barring unforeseen circumstances. Consequently, APA is targeting to increase its full year distribution for financial year 2008 by at least 5%.
