Transurban today booked a reported first half net profit of $1.9 million, down 86.4 per cent on the prior corresponding period.
Profit from continuing operations fell 65 per cent to $3.2 million.
But underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 11.6 per cent to $297.3 million.
Underlying free cashflow rose 33.1 per cent to $137.6 million.
Transurban said its assets in Australia displayed resilient traffic numbers in the first half, which contributed to a 9.7 per cent increase in toll and fee revenue to $415.8 million.
Costs were reduced by $9.6 million on the prior corresponding period.
Transurban said it was on track to achieve $21.4 million in annualised cost reductions for the 2009 full financial year.
"Despite the uncertain economic climate, our quality assets continue to deliver strong revenue and EBITDA growth,'' Transurban chief executive Chris Lynch said.
Transurban's total revenue from continuing operations for the six months to December 31, 2008 rose 7.3 per cent to $575.2 million.
Toll, fee and other road revenue rose to $371.2 million, from $339.5 million.
The group will pay an interim distribution of 11 cents per stapled security, which was declared prior to the balance date. The interim distribution in the prior corresponding period was 28 cents per unit.
Transurban said the interim distribution was in line with its distribution guidance for the financial year ended June 30 of 22 cents per stapled security.
Gaylord expects slow start to ‘09
Perpetual profit falls 84 pc
