Atlas Arteria reported a statutory net profit after tax of $117.1 million for the six months ended June 30, up from $41.2 million in the previous corresponding period (pcp).
The toll road group said profits were boosted by high toll revues as traffic rebounded following the end of government imposed COVID-19 restrictions across all jurisdictions.
?Our balance sheet capacity remains strong, and we are well positioned to support organic and inorganic growth opportunities. We will continue to seek opportunities where we can see a clear ability for Atlas Arteria to add value to businesses and deliver appropriate returns for our securityholders?, said CEO Graeme Beavns.
Atlas Arteria Ltd. confirmed that IFM Investors has accumulated a 19% stake in the Australia-listed toll-road operator and wants a seat on the board.
The company said that IFM had not submitted any proposal to acquire the whole company, but that it understood IFM had approval to do so from Australia's foreign investment regulator. Atlas Arteria said it is considering the board seat request.
Atlas Arteria expects to pay a second half dividend of 20? per share, compared with 20.5? a year earlier.