No. of Recommendations: 2

Segment Performance
Brookfield Infrastructure's increase in FFO was primarily driven by the Partnership's transport and energy segment with FFO of $62 million, compared to $45 million the previous year. This segment's strong performance reflects a doubling of FFO from its Australian railroad, as a result of contribution from three expansion projects that have been commissioned and an increase in grain volume following a record harvest in Western Australia.
Brookfield Infrastructure's utilities segment generated FFO of $65 million in the first quarter of 2012, versus $61 million in the first quarter of 2011. The increase in FFO was driven by inflation indexation, favourable foreign exchange rates, and additions to rate base across the majority of its operations.
Brookfield Infrastructure's timber operations reported FFO of $6 million in the first quarter of 2012, compared to $10 million in 2011. This segment's performance was negatively impacted by a decline in realized prices due to a build up of inventory primarily in the Chinese market, which was partially offset by firm demand from Japan....

Another strong report...

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