Transurban quarterly toll revenue up 5.3%
Transurban Group (TCL) reported a 5.3% increase in proportional toll revenue for the December quarter to $209.2 million, compared to the previous corresponding period ("pcp"). The group said excluding the impact of the CityLink revenue protection provision was $206.6 million, an increase of 6.5% on the pcp.
Transurban reported a 5.7% increase in toll revenue and 0.4% rise in average daily transactions at CityLink.
Meanwhile, the Hills M2 saw revenue rise 13.8% on a 2.1% increase in average daily trips.
The group said all Australian assets reported positive traffic growth for the quarter, while the Pocahontas Parkway in the USA reported a 2.5% drop in revenue on an 11.4% decline in traffic.
Transurban said CityLink was impacted by M1 Upgrade works on the Monash and West Gate Freeways on weekends, which resulted in a decline in weekend traffic on both Western Link and Southern Link.
However, the group said growth in Average Daily Transactions was strong in December at 3.1% when compared to December 2008 as the fourth outbound lane opened and M1 Upgrade works became less frequent and disruptive.
At the close of trade yesterday, Transurban shares were trading at $5.51.
Leave a Reply