Tag: TCL

Toll road operator Transurban swung to a $111 million loss for the year to June 30 after the COVID-19 pandemic ’ate’ traffic volumes on its network of toll roads in Australia and the US.

A small thumbs down from investors yesterday for the news from toll road giant Transurban of a near 50% slashing in the size of its final distribution for the 2019-20 financial year which ends next Tuesday.

Is the withdrawal of Transurban’s distribution guidance a sign of more long-term changes to distribution policy?

Toll road giant Transurban has joint the still-growing list of companies to withdraw or suspend guidance for 2019-20 or 2020 financial year.

Toll road giant Transurban’s statutory half-year profit might have jumped 46% to $189 million off the back of higher road revenue, even as softening economic environment slowed the growth of traffic on its highways, but in reality, it was a bog-standard interim result, except for the softening in traffic volumes which could be linked to the weak state of the economy.

Toll road giant Transurban is on the hunt for new assets and will raise up to $700 million from investors to take full ownership of a section of the M5 toll road in Sydney.

The current environment in bond markets is supporting Transurban and brokers do not envisage any change instatus in the near term.

Securities in toll road giant, Transurban were uneasy yesterday after it reported a lower interim profit on higher revenues, a higher distribution and reaffirmed full-year guidance.

Shares in toll road giant, Transurban ended more than 1% higher yesterday at $12.06 after the ACCC cleared it to participate in the sale of part of the huge WestConnex project in Sydney by the NSW Government.

The solid annual results from Transurban yesterday sank like a stone so far as investors were concerned – not because they were boring but because the bigger story remains whether the company will be blocked by the competition regulator from being involved in the purchase of Sydney’s WestConnex toll road project under construction by the NSW government.

Australia’s largest toll company, Transurban, has made a final bid to buy a majority stake in WestConnex road system now under constriction, despite the competition regulator, the ACCC revealing concerns about any such purchase.

The competition regulator, the ACCC sent chills through the Australian business community yesterday, days after its chair, Rod Sims made a speech where he singled out a spate of cases where the Commission had sprung companies engaging in bad behaviour.

Media reports claiming how toll road operator Transurban has been hitting motorists with high fees have forced the giant to reveal plans to revamp its tolling system and other services from next week.

The ACCC reckons Transurban, the toll road giant may have just about reached the limit of its ability to invest in the sector in Australia after raising doubts yesterday about its plans to take an interest in the huge WestConnex project in Sydney.

Ignore Transurban’s profit soaring 280% for the six months to the end of December.

Another major deal for Transurban, the country’s toll road king, to swallow, this time in Melbourne.

Transurban and the NSW Government have started their two step that could see the country’s largest toll road company become the part-owner of the country’s largest Australia’s largest infrastructure development.

Another gush of cash from Transurban, both actual and promised after the toll road giant confirmed it had had a great year in 2016-17.

Investors loved the way Toll road operator Transurban (TCL) upgraded its full-year dividend guidance off the back of a jump in revenue and profit in the six months to December.

Shareholders in tollroad group, Transurban (TCL) should be happy after the company yesterday forecast a ”double digit” growth in dividends for 2016-17 after the tollroad group returned to a topline profit after the huge write downs of some Brisbane tollroad assets in 2014-15.

Transurban (TCL) has boosted guidance for its 2015-16 distribution as strong revenues from toll roads helped the company report a first-half net profit of $81 million.