Macquarie Atlas Roads
(ASX:MQA) has released its full-year results.
The company's profit after tax was up 164.6% to $225.1 million – largely comprising its share of profit from its investments in European motorway, Autoroutes Paris-Rhin- Rhône (APRR) and Dulles Greenway in the US, and proceeds from the Chicago Skyway sale.
Macquarie’s revenue rose to $60.7 million (which includes management fees for the M6 Toll roads in the UK, and Germany’s Warnow Tunnel services fees). In the previous year, the company’s revenue was much lower at $2.2 million.
The company has reaffirmed its 2017 full year distribution guidance of 20 cps, and expects to declare a first half distribution of 10cps in March 2017.
Macquarie has also announced today that it will exercise its pre-emptive right to acquire the remaining 50% economic interest in the 22-km Dulles Greenway. This acquisition will cost US$445 million.
