Transurban Group [ASX:TCL] have displayed figures of positive growth in their March quarter update.
Thanks to the busy Easter holiday period, Transurban was able to increase profits due to the increase in traffic.
Today, stock value grew by 1.56%, increasing the price of shares to $11.73.
Transurban grows its business through developments
Transurban dedicated thousands of hours of work during the development of their WestGate Tunnel Project, back in January.
The West Gate Tunnel Project is their third major work site, which is now being established to create a tunnelling hub.
Their new projects have helped to create plenty of work within the construction industry.
Transurban also profited off the opening of new traffic lanes on the CityLink.
This also marks the completion of its CityLink Tulla Widening project.
Transurban developed their projects to act as a convenience to Melburnians travelling on foot and in vehicles.
Transurban reported on their ASX release:
‘A dynamic speed limit trial is underway on the CityLink/Tullamarine corridor, giving drivers a more reliable trip on one of Melbourne’s busiest road networks. The six-month trial will see speeds increase from 80km/h up to 100km/h during off peak periods, when it’s safe to do so, between Bulla Road and the Bolte Bridge. Speed limits will be increased when certain traffic volumes and weather conditions are met, using newly installed technology.’
Transurban have also been profiting from their Brisbane projects — the Logan Enhancement project is on schedule with its construction.
Transurban are doing everything they can to reduce the impact their sites have on traffic.
However, Brisbane’s average workday traffic has increased by 3.3%, creating more relevance for Transurban’s projects.
With a positive quarterly report and ongoing demand for their services, Transurban Group may see their share price continue to grow.
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