Transurban boasts local traffic growth amid US snow snarls

Transurban’s local toll roads and tunnels have reported traffic growth as heavy snow slows US assets.

A toll road in the US. (Source: Supplied)

Toll road operator Transurban has reported an almost four per cent fall in average daily traffic on its roads in Washington due to heavy snow during the March quarter.

The average daily traffic on Transurbans’ (TCL) roads in the area around the US capital dropped 3.9 per cent to 87,000 trips in the three months to March 31, the company’s trading update showed on Monday.

However, Transurban’s toll roads and tunnels in Australia all reported traffic growth.

Sydney’s average daily traffic rose 3.5 per cent to 660,000 trips, while Melbourne’s rose 3.2 per cent to 831,000 in the three months to March 31. In Brisbane, the average daily traffic grew by 2.1 per cent to almost 400,000 trips.

Transurban says it has also reached an agreement to acquire the A25 toll road and bridge in Montreal, Canada for $C840 million ($858m). The company says the acquisition provides it access to a second North American market with a growing population.

Transurban shares were trading 9 cents, or 0.81 per cent, higher at 3.22pm (AEST).

AAP