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US regulators cap toll rises on Atlasâ Dulles Greenway
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Atlas Arteriaâs attempts to raise fees on its US toll road the Dulles Greenway have been only partially successful, with state regulators limiting increases to two years and stonewalling proposed hikes in peak tolls.
The Virginia State Corporation Commission did not allow the toll road group to lift peak tolls, which it had proposed increasing by 6 per cent to $US6.15 ($7.90) this year and a further 6.5 per cent in 2022.
But it did allow Atlas Arteria to raise off-peak tolls by 5.3 per cent to $US5 this year, and by another 5 per cent to $US5.25 in 2022.
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Atlas Arteria (ASX:ALX) share price driven lower by FY20 report
Tristan Harrison | February 25, 2021 12:36pm |
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The share price of
Atlas Arteria Group(ASX: ALX) is being driven lower after the toll road business announced its FY20 result.
Atlas Arteria is a global owner, operator and developer of toll roads. It has operations in France, the US and Germany.
FY20 result
The toll road business reported that its underlying net profit after tax fell by 61% to $69.6 million. However, the statutory net loss after tax declined 468% to $55.8 million due to a number of notable items.
Those items included a $143.9 million impairment of the Dulles Greenway, a $13.8 million non-cash foreign exchange gain and a final management fee of $2.1 million paid to
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David Jones back in fashionable black
Sue Mitchell
Upmarket retailer David Jones is back in fashionable black after slashing costs, reducing discounts and promotions, cutting debt by selling landmark stores and taking about $35 million in JobKeeper subsidies.
David Jonesâ adjusted operating profit rose 33.3 per cent to $56 million in the six months ending December, according to accounts filed by its South African parent, Woolworths Holdings, on Thursday.
It was a major turnaround from the June half of 2020, when David Jones lost $53 million as same-store sales fell 14.4 per cent. It crashed to a full year loss of $33 million last year compared with a $37 million profit in 2019.
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