Toll road operator Transurban Group
(ASX:TCL) has reported a narrower loss for the year compared to the year before.
Net loss of $24.6 million, an improvement on the $142 million loss recorded for the same period last year.
The company says its portfolio of prime assets in Australia displayed resilient traffic numbers in the year to June 30, contributing to a 7.6 per cent increase in toll revenue to $778.7 million.
Transurban says cost reductions of $26.6 million were made to the ongoing cost structure of the business, above its target of $21.4 million.
CEO Chris Lynch says the business is well positioned with a more appropriate cost structure and strong capital discipline.
Transurban declared a final dividend of 11 cents a share. Looking at the past five years, Transurban Group is yet to post a net profit.
