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Spanish road toll operator announces higher than expected profits

Thu 24th Feb 2011

Spain's largest toll-road company, Abertis Infraestructuras SA, has reported a full-year profit that went beyond the forecasts of many analysts, thanks in part to traffic on toll roads owned by the company outside of Spain.

Net income grew by 6.1% to reach a total of 662 million euros, compared to 624 million euros the year previously as total sales increased 5.2% to 4.11 billion euros, the Barcelona-based operator said in a statement released earlier today. That compares with a profit of 659.2 million euros and total turnover of 4.07 billion euros that analysts had earlier estimated.

Abertis intends to issue a dividend of 30 euro cents a share, for a total gross dividend of 60 cents, the company said. Shares in Abertis had fallen by 0.7% to 14.40 euros and was down 0.3% at the start of trading this morning.

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