Transurban has delivered a profit despite a drop in traffic flows as the company announced chairman Lindsay Maxsted would retire in October.
Transurban has delivered a $16 million annual net profit despite a drop in traffic flows as the company announced chairman Lindsay Maxsted would retire in October after 12 years overseeing the tollroad company.signalled his pending retirement for several years,
The tollroad group’s traffic flows slid 0.5 per cent over the full year but Transurban CEO Scott Charlton said the number of cars had risen in the fourth quarter.“While traffic numbers were broadly flat year-on-year from COVID-19-related disruptions and severe rainfall events in Queensland and NSW, it was encouraging to see fourth quarter traffic reaching a new high and exceeding pre-pandemic levels,” Mr Charlton said.
Transurban said traffic flows in Sydney had been disrupted by COVID-19 outbreaks and heavy rain. Excluding income from new tollroads such as NorthConnex, toll revenues in Sydney slid 9.3 per cent compared with a year earlier.
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