Transurban Group's (ASX:TCL) traffic increased 3.8% in June from a year earlier, accelerating from the 0.1% growth rate logged in May, according to a Monday filing with the Australian bourse.
Sydney traffic increased 2.5%, reflecting the easing of construction-related impacts associated with the M7-M12 integration project, and Melbourne traffic jumped 6.1% amid improved performance across the broader network, per the filing.
Meanwhile, North America traffic grew 6.9% in June on continued demand for travel options across the Express Lanes network.
The company said July traffic results have not yet been finalized but are broadly consistent with June's performance.
"While June and July traffic outcomes were stronger than in previous months, the macroeconomic environment continues to be a watchpoint, including renewed conflict in energy-producing regions," Transurban Group said.
Additionally, the company welcomed the New South Wales government's announcement of a finalized Direct Deal for proposed toll reform, with implementation subject to definitive agreements and various approvals.
The broader reform package is expected to provide more benefits for motorists while maintaining the value of existing concession contracts without negatively impacting Transurban's near-term distributions, the company said.
The company's shares were down almost 1% in recent Monday trade.