Higher tolls help Atlas Arteria lift half-year profit

The news: Toll road operator Atlas Arteria has lifted its half-year profit on the back of higher traffic and increased tolls.

The numbers: Net profit for the six months to 30 June was up 16.6% from a year earlier to $136.6 million, in line with market expectations. Revenue was up 17.2% to $63.5 million. The company will pay an interim dividend of 20 cents a share, and is guiding for a similar payout for the second half.

The context: Traffic rose on all the roads operated by the group in France, Germany and the US except on the Chicago Skyway, which was affected by roadworks. It also benefitted from higher inflation, with fares on some toll roads directly linked to consumer price indices, while income was bolstered by a stronger Euro and US dollar against the Australian dollar.