Toll road builder and operator Transurban has published figures for the first half of the 2018 financial year, recording a profit of $331mn which represents an increase of 280% versus H1 of the previous H1 period.
Overall revenues rose by 22% to $1.6bn in the six months ending December 2017 – this is despite a modest increase in traffic of around 1.4%.
Transurban’s main revenues derive from toll roads in Sydney, Melbourne and Brisbane, and it is a key player in the ongoing development of the $6.7bn West Gate Tunnel project in Melbourne.
In a presentation to investors, the company outlined several key outlook priorities. These include maintaining a strong balance sheet to fund $11bn in pipelined projects, using technology to enhance customer experience and expanding community engagement.
Transurban also has interested in North America, especially in Greater Washington where it is delivering several highway construction projects. It is also eyeing up work in Maryland to build managed lanes on major highways, and exploring possibilities in other US states and Canada.
In Sydney, it is in the running to take a majority stake in the city’s WestConnex project, a huge motorway upgrade that it says will ease congestion and better connect communities.