US Toll roads turn huge profits for MIG

http://www.news.com.au/story/0,23599...-31037,00.html

MIG turns US tollroads to gold

By Nick Lucchinelli
February 22, 2007 01:57pm

The group today announced a half year net profit of $1.44 billion, up 76
per cent on the previous first half, while also predicting double digit
earnings growth over the next twelve months.

This would be largely driven by the US tollroad sector, said chief
executive Stephen Allen.

<...>

US assets were very solid performers for the company in the first half.

Earnings before interest, tax, depreciation and amortisation (EBITDA) on
MIG's Indiana toll road increased 57.7 per cent during the period, while
the Dulles Greenway tollroad in northern Virginia increased 45.7 per cent.

The Skyway in Chicago was less impressive, posting EBITDA growth of 2.3
per cent, which the company attributed to roadworks. Non-US assets
generally performed less impressively.

<...>

The company was happy, too, with its on-market buy back, with $303
million of $1 billion acquired since October, representing 11.1 per cent
by volume of the securities traded since the buy back began.

<...>

On Feb 23, 1:12 pm, (Brent P)
wrote:
> http://www.news.com.au/story/0,23599...-31037,00.html

> Earnings before interest, tax, depreciation and amortisation (EBITDA) on
> MIG's Indiana toll road increased 57.7 per cent during the period, while
> the Dulles Greenway tollroad in northern Virginia increased 45.7 per cent.

Isn't this the same Greenway on which they are constantly trying to
raise the tolls?

just curious,

nate