Transurban reaffirms full-year distribution guidance
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The news: Toll roads group Transurban reiterated its full-year distribution guidance as it reported a rise in average daily traffic (ADT) during the September quarter.
The numbers: Group ADT increased by 1.1% compared to the previous corresponding period, averaging 2.5 million trips per day. Traffic grew in Sydney (1.9%), Brisbane (1.3%) and North America (6.5%) but lowered in Melbourne (-1%), driven by a 1.5% reduction in Western Link traffic during continued construction works.
Transurban reaffirmed its FY25 distribution guidance of 65 cents per share, representing around 5% growth on FY24.
The context: Transurban chief executive Michelle Jablko said that parts of Sydney and Melbourne continue to be impacted by construction. Once complete, however, the company expects to see benefits in the form of enhanced travel time savings and improved network traffic flows.
Meanwhile, Jablko noted that the Transurban is working on "a number of opportunities" help the company to grow in both existing and new markets.
The source: ASX announcement
