Transurban Group (ASX: TCL) has witnessed an increase in its traffic and revenue data for the December quarter of 2012, with proportional toll revenue up 5.1% from the prior corresponding period to $249.7 million.
The international toll road developer and manager has a stake in five of Sydney's nine motorways, and, in Melbourne, is the full owner of CityLink, which connects three of the city's major freeways.
All assets in the Transurban portfolio recorded traffic and revenue growth for the December quarter with the exception of the construction impacted Hills M2 and M5 South West Motorway.
For the December quarter 2012, on a statutory basis, toll revenue increased by 4.9% to $202.6 million compared to the December quarter 2011.
For the half year ended 31 December 2012, proportional toll revenue increased by 3.8% to $491.81 million, compared to the 2011 half year result, while on a statutory basis, toll revenue increased by 3.1% to $397.7 million for the period.
Transurban’s largest asset, CityLink, recorded 5.8% revenue growth on the back of 2.8% traffic growth.
In Sydney, work on the Hills M2 Upgrade Project has progressed.
The new Macquarie Park ramps will open on 17 January 2013, with final completion of the project targeted for mid-2013.
Meanwhile, the M5 South West Motorway toll price for trucks (Class 4 vehicles) increased by 5.7% on 23 November 2012. This was the first price increase for trucks since 2010.
The M5 West Widening Project is underway and is tracking to schedule.
Transurban also has interests in North America.
The United States’ 495 Express Lanes opened to traffic on 17 November 2012, and revenue in the week prior to Christmas was around double that of the opening week of operations in mid-November.
Leading indicators such as the percentage of new users each day and take up of electronic transponders in the area are trending positively.
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