SP Ausnet year profit falls 6.3 pct

PERTH, May 22 (Reuters) - Australian infrastructure firm SP Ausnet SPN.AX reported a 6.3 percent fall in its 2007/08 year profit on Thursday, and said it expected the current year's result would be of a similar level after higher interest charges.

Profit from continuing operations was A$151 million ($145 million) for the year to March 31, compared with A$161.3 million a year ago, the company said in a statement.

Net profit was A$157.5 million.

SP Ausnet, 51 percent owned by state-owned utility Singapore Power, in December pulled out of a plan to pay A$8.3 billion for assets of former energy firm Alinta due to concerns over high borrowing costs.

The utility in March upgraded its earnings forecast for the 2008/09 and said it expected net profit to be about 15 percent higher than a forecast in its 2007 memorandum of A$147.5 million. ($1=A$1.04) (Reporting by Fayen Wong)