NLEX Corp., formerly Manila North Tollways Corp., said net income accelerated 37 percent in 2016 from a year ago, on higher vehicle traffic along its two toll roads.
The operator of North Luzon Expressway and Subic-Clark-Tarlac Expressway said it posted a net income of P4.1 billion in 2016, up from P3 billion in 2015.
Toll revenues climbed 25 percent last year to P10.54 billion from the previous year, driven by higher traffic volume at NLEx and SCTEx.
Toll revenue contribution from SCTEx operations reached P1.6 billion.
Average daily traffic at NLEx hit 220,010 daily entries in 2016, or 9 percent higher than in 2015. Traffic at SCTEx reached 45,026 daily vehicle entries in 2016, up by 16.6 percent from the previous year.
Revenues from advertising, toll services and utility facilities and rental and service income rose to P157.4 million last year from P150.1 million in 2015.
NLEx president Rodrigo Franco said the company was expecting a 5-percent to 7-percent growth in revenues this year, boosted by higher vehicle traffic.
Franco earlier said the company would submit an unsolicited proposal to build an elevated expressway connecting the north and south of Manila worth over P50 billion.
Franco said the company proposed to build more than 8.2 kilometers of elevated expressway from Commonwealth Ave. in Quezon City going to the south and ending at C5 and Manila-Cavite Expressway.
He said the company needed to complete first the P8.6-billion NLEx C5-Link project before undertaking the new elevated expressway under an unsolicited mode.
The 7.85-kilometer C5 link will start from the end of Segment 8.1 at Mindanao Ave. and end at Commonwealth Ave. in Quezon City.
The C5 link aims to decongest Metro Manila as it would provide alternative access to mainline North Luzon Expressway further east of Metro Manila, bypassing Edsa and Balintawak toll plaza.