Transurban (ASX: TCL) says its toll roads generated a 5.1% increase in revenue in the first quarter of 2012.
Major upgrade work on Sydney’s M2 continued to affect traffic and was the only toll road not recording a quarterly increase, the company said.
Toll revenue for the March quarter rose 5.1% from the December quarter to $230.6 million. Toll increases on some roads helped boost revenue.
“We continue to see robust revenue growth in the Transurban portfolio,” chief executive Chris Lynch says.
The company says its largest asset, CityLink in Victoria, grew revenue by 7.8% on the back of a 1.3% increase in traffic.
“This is despite major roadworks continuing into the early part of the quarter,” Lynch says.
Transurban holds major stakes in Sydney’s Eastern Distributor, Westlink M7 and M5, and the Pocahontas Parkway in Virginia in the United States.