A rise in the number of motorists using Transurban’s Sydney toll roads has helped lift its second quarter revenue by 13.1 per cent
Transurban’s revenue rose by more than 13 per cent in the second quarter, thanks to more motorists using its Sydney toll roads.
Revenue from its toll road network increased 13.1 per cent to $234.1 million during the three months to the end of June, compared to the same period in 2013.
Proportional toll revenue, the company’s preferred measure, was up 11.8 per cent to $286.7 million.
The company said there had been a 10.3 per cent increase in traffic on its Sydney roads during the quarter, thanks to the completion of the M2 upgrade in the city’s north.
Meanwhile, revenue from the 495 Express Lanes in the USA, which has been a weak performer for Transurban, doubled compared to the same time a year ago.
Transurban owns or part owns Sydney’s Eastern Distributor, M2, M5 and M7 roads and Lane Cove Tunnel roads and Melbourne’s CityLink.
It also owns majority stakes in the 495 Express Lanes and Pocahontas 895 in Virginia, USA, and recently bought Sydney’s Cross City Tunnel and Brisbane’s toll road network.
Shares in Transurban closed three cents higher at $7.58.