“During the last six months, DUET was able to lift distribution guidance to 23.5 cents per stapled unit,” chairman Philip Garling said.

“This means a full-year forecast distribution increase of 6.8% compared to the 2005 year.”

Chief executive Peter Barry said DUET’s strong results in the December half reflected solid performances by its assets and the value of its active asset management strategy.

“Multinet and United Energy Distribution each continued to deliver quality service to customers while containing costs and pursuing opportunities for organic growth,” he said.

“Dampier Bunbury Pipeline results were up sharply on last year due to a full period contribution in the latest results compared with two months in the previous corresponding period.”

Barry said the Stage 4 expansion of the Dampier-to-Bunbury gas pipeline was progressing ahead of schedule and planning for the Stage 5 expansion was underway.

If Stage 5 goes ahead, it would drive even greater growth and development in Western Australia, according to Barry.

“The Stage 5 expansion is expected to increase the pipeline’s capacity by 375 terajoules per day at a total cost of approximately $1.5 billion,” he said.

Backed by Macquarie Bank and AMP Capital, DUET primarily invests in Australian and New Zealand utility and energy assets.