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Transurban falls to $111m loss as lockdowns hit traffic

Transurban has swung to a $111 million full-year net loss after the COVID-19 pandemic took traffic from its network of toll roads.

The ASX-listed giant, which made a $171 million profit last year, said on Wednesday that average daily traffic on its roads in Sydney, Melbourne, Brisbane and North America fell 8.6 per cent in the 12 months to June 30.

Traffic across the group was down 25 per cent in July compared to the same month last year, with Melbourne’s CityLink down 48 per cent due to the stage four restrictions in place.

“Transurban, like most businesses, has seen significant impact to our revenue as a result of COVID-19 and the associated government actions,” its chief executive Scott Charlton said in a statement to investors.

Fewer cars have been using Transurban's roads due to the COVID-19 pandemic.

Fewer cars have been using Transurban’s roads due to the COVID-19 pandemic.Credit:Ben Rushton

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