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Transurban toll revenue up 5.1 per cent

Reported by AAP
Friday, April 13, 2012
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Toll road operator Transurban says all its roads generated more revenue in the three months to the end of March, except for Sydney's M2 motorway.

Major upgrade work on the M2 continued to affect traffic, the company said.

Transurban's toll revenue for the March quarter rose 5.1 per cent from the prior corresponding period to $230.6 million.

Toll increases on some roads helped boost revenue.

Transurban owns Melbourne's CityLink, Sydney's Lane Cove Tunnel and the M2.

It also holds major stakes in Sydney's Eastern Distributor, Westlink M7 and M5, and the Pocahontas Parkway in Virginia in the United States.

"We continue to see robust revenue growth in the Transurban portfolio," Transurban chief executive Chris Lynch said in a statement.

"Our largest asset, CityLink, grew revenue by a healthy 7.8 per cent in the quarter.

"This is despite major road works continuing into the early part of the quarter."

Mr Lynch said the upgrade of the M2 was making excellent progress, and Transurban was confident it would be completed on time in the first half of 2013.

The impact on traffic of the widening of the M2 tunnel was expected to reduce in the June quarter, he said.

On CityLink, toll revenue for the March quarter rose 7.8 per cent to $114.7 million, and average daily transactions lifted 1.3 per cent to 750,627.

On the M2, toll revenue fell 4.8 per cent to $34.1 million, and average daily trips fell 7.3 per cent to 87,671.

Shares in Transurban closed three cents higher at $5.63.

25/10/2014 05:02Sydney, Australia. 25 October,2014
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