A higher volume of traffic on the CityLink toll road has helped boost Transurban’s annual toll revenue by nearly six per cent to $943.9 million.

Securities in toll roads operator Transurban closed 15 cents, or 2.64 per cent, higher at $5.83, on Thursday as the share market finished lower.

The company said its result for the year to June 30 was partly driven by strong revenue growth from its largest asset, the CityLink toll road in Melbourne, where traffic volumes rose 1.6 per cent for the June quarter.

However, Transurban’s Hills M2 toll road in Sydney continued to be affected by ongoing road works, with traffic volumes down 3.8 per cent for the quarter.

Transurban said 70 per cent of the planned upgrade of the M2 toll road was now complete.

Transurban’s total toll revenue for the June quarter rose by 6.5 per cent to $239.5 million, compared to the prior corresponding period.

Transurban’s outgoing chief executive Chris Lynch said that despite the difficult economic environment, the company had grown the amount of free cash available to securityholders in the 2012 financial year.

As a result, distributions to securityholders had risen by 9.3 per cent to 29.5 cents per security.

“The June quarter has seen continued revenue growth across the majority of the portfolio, with Transurban’s largest asset, CityLink, again delivering outstanding revenue growth,” Mr Lynch said in a statement.

Transurban said construction works to widen the M5 motorway in Sydney’s southwest would begin shortly.

The project, in which Transurban holds a 50 per cent share, is expected to be completed in late 2014.