Transurban nets 27.1% profit increase

Australian toll-road owner and investor, Transurban, said its “true defensive nature” appeal to investors had enabled it to achieve a 27.1% increase in net profit.
March 16, 2012 Read time: 1 min
Australian toll-road owner and investor, 891 Transurban, said its “true defensive nature” appeal to investors had enabled it to achieve a 27.1% increase in net profit. The owner of Sydney’s Lane Cove Tunnel and Melbourne’s CityLink saw profits rise to US$104.05million (AUS$97million) for the six months to December 2011, compared to the same period of 2010. Toll revenues alone rose by a more modest 6% to US$510.38million (AUS$473.8million). Meanwhile, Transurban’s pe-tax earnings rose 7.5% to US$420.1million (AUS$390million) for the half-year. “These results highlight the true defensive nature of Transurban as an investment proposition – continued growth in the face of economic headwinds even with construction induced traffic impacts to four of Transurban’s six Australian assets,” said Transurban chief executive Chris Lynch. He added: “In addition to the financial results for the period, I am delighted with the excellent progress of the Hills M2 Upgrade and the Capital Beltway HOT Lanes Project, as well as reaching key milestones for the M5 and I-95 projects.”
Highway & Network Management

For more information on companies in this article

Related Content

  • Astec Industries appoints new president and CEO
    July 23, 2019
    Astec Industries has appointed Barry Ruffalo as its president and chief executive officer, effective on August 12th, 2019. Ruffalo has also been elected to the board of directors. He will join the board of directors as a Class I director and will stand for re-election at the Company’s 2020 annual meeting. On the effective date of Ruffalo’s appointment, Richard Dorris, interim chief executive officer, will resume his role as chief operating officer. Prior to his appointment, Ruffalo was employed by Valmont
    Read More
  • Virginia state issues RFP for $2.1 billion Interstate 66 toll expansion
    December 23, 2015
    The Virginia Department of Transportation (VDOT) has issued a draft request for proposals (RFP) for the US$2.1 billion Interstate 66 tolled expansion project. Work under a 40-50-year public-private partnership is expected to include construction of 46km of lanes.
    Read More
  • Cummins sets new quarterly record
    November 6, 2023
    The US-headquartered global off-highway machine engine giant posted a 15% year-on-year revenue rise to US$8.4 billion.
    Read More
  • Revenue crash hits giant European contractor STRABAG SE
    November 30, 2012
    One of Europe’s biggest construction groups, STRABAG SE, is facing tough trading conditions with “earnings significantly down,” according to its latest quarter three report. Chief executive Hans Peter Haselsteiner told World Highways that the central and east European specialist is fighting its way through a continuing downturn. “Conditions in the construction sector are becoming more difficult than we have been accustomed to in recent years,” he said. And this has been the case since “our half-year results
    Read More

Highlighted Content