Toll road operator ConnectEast Group Ltd
(ASX:CEU) has announced that traffic and revenue on its EastLink tollway in Melbourne accelerated in May.
The company says average daily revenue for the month was $570,334, which was 16.8% higher than in May 2009 and up 4.4% on April 2010.
Average workday trips of 199,651 were up 13.8% on the same month last year and 0.2% higher than in the previous month, while daily trips were nearly 13% higher than in May 2009.
ConnectEast owns and operates the 39km EastLink, connecting the eastern and south-eastern suburbs of Melbourne.
The road opened in June 2008 and traffic ramp-up is expected to be complete around June next year.
The company transitioned to positive cashflow in the December quarter of 2009 and has seen continuing traffic and revenue growth on its EastLink tollway since.
ConnectEast Group booked a loss of $531.6 million for the 2009 financial year.
