Transurban H1 Profit Cont Opns Drops

Transurban (TCL.AX) reported that its profit from continuing operations for the first-half of fiscal year 2019 dropped to A$145 million from A$331 million last year.

Average daily traffic (ADT) grew by 2.7%.

Proportional earnings before interest, tax, depreciation and amortisation or EBITDA increased by 9.8% to A$1.001 billion.

Proportional toll revenue increased by 9.3% to A$1.286 billion.

Total revenue grew to A$2.114 billion from A$1.624 billion in the prior year.

A distribution totalling 29.0 cps will be paid on 15 February 2019 for the six months ended 31 December 2018. This will consist of a 28.0 cps distribution from Transurban Holding Trust and controlled entities and a 1.0 cents per share fully franked dividend from Transurban Holdings Limited and controlled entities.

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