The following from todays paper shows some of this selling may be well overdone
RECORD petrol prices have not damaged Australian toll-road revenue after figures from operator Transurban revealed a jump in coffers for the June quarter.
Toll and fee revenue from the road company's largest asset, Melbourne's CityLink road, jumped 9.7 per cent to $94.1 million for the quarter while traffic over the last financial year delivered $362.8 million.
Revenue from its Hills M2 road in Sydney also jumped by 5.6 per cent to $30.7 million, compared with the previous corresponding period, while fees and tolls for the city's Westlink M7 road surged by 13.3 per cent to $43.3 million.
Despite petrol prices remaining at record levels above $1.60 a litre, infrastructure analysts said the price had little effect on drivers' opting to pay up. Daily traffic was also up across all the roads, with CityLink up by 5 per cent and Sydney's M5 rising by 3.6 per cent.
The increase in revenue was in part due to a rise in tolls.
RCY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
