Intoll Group
(ASX:ITO) formerly Macquarie Infrastructure Group, says it expects steady traffic growth at its key toll road asset in Canada, the 407 ETR toll road.
CEO Jose Tamariz says growth will be underpinned by strong growth in population and employment in the greater Toronto area.
Intoll owns and manages a 30% interest in 407 ETR, a multi lane highway with electronic tolling in Toronto, Canada.
The Australian Financial Review reports Mr Tamariz, who is in Australia meeting with institutional investors and broking analysts to discuss the performance of the 407 ETR, says Canada’s economy is holding up better than the US or Europe, and GDP growth around Toronto is rapidly increasing.
The 407 ETR recorded 25.6 million trips in the first quarter, up on low levels reached during the height of the GFC.
Intoll Group says since 2001, traffic has increased 4.2% on the toll road, revenue increased 13% and earnings before interest, tax, depreciation and amortisation up 15%.
Intoll Group booked a $1.7 billion loss for the 12 months to June 30, 2009.
