Melbourne, Sydney drive Transurban profits

Transurban's quarterly revenue has risen 12.3 per cent to $513 million, led by Melbourne's Citylink and Sydney's Westlink M7.

Traffic on a freeway in Melbourne

Transurban's quarterly revenue has risen on the back of increased traffic and a toll rate rise. (AAP)

Toll road operator Transurban's first-quarter revenue has increased by 12.3 per cent, with Melbourne's Citylink again the company's biggest earner.

The company, which operates tolls in Sydney, Melbourne, Brisbane and Washington DC, booked revenue of $513 million in the three months to September 30.

Transurban's revenue in Brisbane jumped by more than 30 per cent, helped by the AirportlinkM7, which the company bought last year for $1.9 billion.

The airport toll road, which was purchased from administrators for less than half the cost it took to build, represented more than 75 per cent in Transurban's quarterly growth in the sunshine state.

While Sydney remains Transurban's biggest profit base, the single largest earning single toll is Melbourne's CityLink, which earned $169 million.

However, the CityLink toll's daily usage was relatively stable, with an increase of just 2.6 per cent, while Sydney's Westlink M7 jumped by 15.7 per cent to $96 million.

Proportional toll revenue - which Transurban says is a more accurate reflection of its performance - was up 10.8 per cent from a year earlier, at $529 million.

The company also operates several tolls around Washington in the US, which also showed large increases in revenue.

TRANSURBAN'S BUMPER QUARTER

* Sydney - $212 million (7.9pct increase)

* Melbourne - $169 million (2.6pct increase)

* Brisbane - $97 million (30.6pct increase)

* Washington DC - $US38 million (24.1pct increase)


Share
2 min read

Published

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world