Transurban (ASX:TCL) traffic drops 9% from FY19

Company News

by Lauren Evans

Global road and toll operator, Transurban Group (ASX:TCL) reports a decline across several areas for the period ending 30 Jun 2021 (FY21), amid global disruptions.

Traffic declined by 0.4 per cent from FY20 and 9 per cent from FY19 following Covid-19 restrictions across all markets, with Melbourne and Greater Washington most affected.

Transurban's free cash decreased by 13.5 per cent from the prior year, following reduced traffic in Melbourne and North America from Covid-19 mobility restrictions and large costs of growth projects.

Transurban included a distribution of 36.5 cents per stapled security and a statutory profit of $3,272 million.

Performance will remain sensitive to future government responses and overall economic conditions.

Chief executive officer Scott Charlton said, "we have seen restrictions reimposed in Sydney, Melbourne and Brisbane, impacting traffic across all three regions. Fortunately, experience has shown us that traffic rebounds quickly when restrictions are lifted although the rate of recovery depends on the length and nature of ongoing restrictions.”

Shares in Transurban (ASX:TCL) are trading 0.9 per cent lower at $14.18. 

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