Transurban Posts Solid FY18 Despite Soft Traffic Growth; No Change to FVE
Wide-moat Transurban Group posted a solid fiscal 2018 result, with underlying proportional EBITDA rising 10% to AUD 1.8 billion as higher tolls, particularly for trucks, offset soft traffic volume growth. The result was marginally below our expectations. Traffic volumes were hurt by roadworks on and around some of the firm's toll roads. Solid earnings growth should continue as traffic growth rebounds, though toll increases will be more modest going forward. Distributions totaled AUD 56 cents per...Transurban Group is engaged in the development, financing, operation and maintenance of toll road networks as well as management of the associated customer and client relationships. Co. manages and develops urban toll road networks in Australia and the U.S. Co. owns concession assets across four key market segments: Victoria, New South Wales, Queensland and the Greater Washington Area.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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