Transurban (TCL.AX, TRAUF), an Australian developer and operator of toll roads networks, reported that its profit for the first-half of fiscal year 2024 climbed to A$230 million from A$55 million in the prior year.
Profit attributable to ordinary security holders of the stapled group grew to A$204 million from A$41 million in the prior year. Earnings per security attributable to ordinary security holders of the stapled group were 6.6 cents compared to 1.3 cents in the prior year.
Total revenue for the period was A$2.13 billion up from A$2.03 billion in the previous year.
Average Daily Traffic (ADT) for the first-half of 2024 was 2.5 million trips, up 2.1% on the first-half of 2023. Traffic was supported by growth in all regions and the opening of new assets.
The company noted that a distribution totalling 30.0 cents per share will be paid on 13 February 2024 for the six months ended 31 December 2023 and does not include a Capital Release.
Transurban reaffirmed its fiscal year 2024 distribution guidance of 62.0 cents per stapled security on the basis set out in the fiscal year 2023 results materials, inclusive of the distribution of 30.0 cents per stapled security for the six months ended 31 December 2023.
The fiscal year 2024 distribution is currently expected to include about 4 cents per security from WestConnex cash, previously held during construction.
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