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Transurban Group profit misses consensus by 78.1% in fiscal H2

Transurban Group said its normalized net income for the fiscal second half ended June 30 came to A$37.0 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue came to A$896.0 million, and total operating expenses totaled A$558.0 million.

Reported net income totaled A$2.7 million, or 0 cents per share.

For the year, the company's normalized net income totaled 12 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 8 cents.

EPS rose from 10 cents in the prior year.

Normalized net income was A$232.3 million, a rise from A$160.0 million in the prior year.

Full-year total revenue rose year over year to A$1.86 billion from A$1.15 billion, and total operating expenses increased year over year to A$1.20 billion from A$712.0 million.

The company said reported net income came to a loss of A$182.0 million, or a loss of 10 cents per share, in the full year, compared with income of A$274.0 million, or 18 cents per share, the prior year.