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Melbourne, Sydney drive Transurban profits

AAP logoAAP 12/10/2016 Tom Rabe

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)

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