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Toll Road operator Transurban Group (ASX:TCL) has recorded a strong rise in revenue for the September quarter, on the back of the completion of upgrades to Sydney’s M2 Motorway.
Statutory revenue for the quarter increased by 14.1 per cent to $222.6 million, while proportional toll revenue, Transurban’s increased by 13.6 per cent to $275 million.
The company says it represents the strongest quarterly growth recorded since the final quarter of 2010.
Completion of the Hills M2 upgrade helped boost traffic on the M2 Motorway, Westlink M7 and Lane Cove Tunnel.
Transurban generated a net profit of $175 million in the 2013 financial year.
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