Transurban lifts Q4 revenue

Strong growth in Transurban's (TCL) Sydney and US networks has resulted in a 13.1% lift in revenue for the toll road operator in the last quarter before revenue from its Queensland Motorways acquisition comes into effect. 

Revenue in the three months to June 30 was $286.7 million, which took the company’s full-year revenue to $906.5m, a 13.1% lift to the previous corresponding period.

The toll road company said the upgrade to Sydney’s M2 in August 2013 has driven the average traffic growth 10.3 per cent higher.

Revenue from Transurban’s 495 Express Lanes in the US reached a new daily high of $US161,945 ($A172,062) in May this year after it increased its ownership of the network to 94 per cent.  

From the September quarter, Transurban's quarterly statistics will include revenue from the Queensland Motorways network, which the company bought for $7.05 billion in April this year.