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Transurban Aussie assets lift revenue

Toll road operator Transurban Group says all of its Australian assets increased traffic and revenue for the March quarter 2010, but toll revenue and traffic fell on the Pocahontas Parkway in the United States.

Transurban, whose major asset is the CityLink tollway in Melbourne, said on Wednesday that toll revenue from its continuing assets lifted by 9.4 per cent, excluding the impact of the CityLink revenue protection provision in the prior corresponding period.

Including the M4 tollway in Sydney, for which Transurban's concession ended on February 15, toll revenue rose by 5.2 per cent to $196.3 million.

Transurban said that toll revenue on CityLink, parts of which are being upgraded, grew 11 per cent to $95.6 million, and average daily transactions on CityLink rose 6.4 per cent to 691,452.

Traffic has been growing since a fourth outbound lane opened in December 2009.

"CityLink continued to benefit from a reduction in the level of construction works, showing strong month-on-month traffic growth for the quarter," Transurban said in a statement.

Toll revenue on the Hills M2 in Sydney grew 15 per cent to $34.6 million, and average daily traffic was up 2.0 per cent to 94,491.

Toll price increases for cars and trucks were key drivers of revenue growth.

Transurban owns 100 per cent of both CityLink and the Hills M2.

For the M1 Eastern Distributor, in which Transurban has a stake of 75.1 per cent, total toll revenue rose five per cent to $20.2 million, and average daily transactions lifted 4.8 per cent to 49,130 as truck tolls were increased.

On the Westlink M7, of which Transurban owns 50 per cent, total toll revenue rose 9.1 per cent to $43.1 million, and average daily transactions grew 7.4 per cent to 126,935.

On the M5, of which Transurban owns 50 per cent, total toll revenue was up 3.8 per cent to $39.8 million, and average daily transactions were up 3.7 per cent to 121,278.

On the Pocahontas Parkway, of which Transurban owns 75 per cent, in Virginia, total toll revenue dipped 1.9 per cent to $US3.1 million, and average daily transactions also fell 1.9 per cent to 12,594.

Securities in Transurban Group were two cents higher at $5.14 at 1028 AEST on Wednesday.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

More about: CityLink

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