Karl Fitzgerald, 3CR’s Renegade Economist, spoke to independent investigative journalist Michael West (Michaelwest.com.au) about Transurban and its control of Australia’s toll roads.
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Let’s start with some numbers: traffic was up just 1.4% on Transurban toll roads over the past six months, but toll revenues were up 9.6% and the earnings before tax trickery by 11.6%. But its net profit was up a staggering 280% in just six months. What does that mean?