Transurban shares lift as full-year result hits estimates
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More news: Transurban shares gained after the toll road group's full-year result and FY26 distribution guidance roughly met expectations.
Shares were up 2.9% to $14.41 at 1pm AEST, having increased 7.3% over the last 12 months.
Transurban reports 69% fall in full-year profit, lifts dividend
The news: Transurban has delivered a full-year net profit after tax of $178 million, down 68.9% from $376 million last year, even as the toll road giant reported increases in average daily traffic and toll revenue for the year.
The numbers: The result missed market estimates of $580.83 million, according to Visible Alpha data.
Average daily traffic grew 2.2% year on year, with increases across all regions. Proportional toll revenue lifted 5.6% to $3.7 billion.
The company declared a full-year distribution of 65 cents per share, meeting guidance. This was up from last year's payout of 62 cents per share and in line with market forecasts. The company said it expects to pay a distribution of 69 cents per share in FY26, reflecting 6% growth year on year.
The context: Transurban's chief executive Michelle Jablko said the company outperformed its cost guidance, translating to a 7% increase in free cash for the year. She said the FY25 result reflected work to restructure the business into a "more agile and effective" operation.
Jablko also noted that "positive progress" is being made towards an outcome on toll reform in New South Wales.
What they said: "The NSW Government has emphasised the importance of respecting the value of existing contracts and revenue, and we continue to work constructively with them through stage two of the direct dealing process," she said.
"We are optimistic that we are closer to a resolution that will meet the needs of government, motorists, and our investors."
The source: ASX
