NLEX’s income rises 16% to P3.4b
NLEX Corp. said Tuesday net income rose 16 percent in the first nine months, on higher toll revenues at North Luzon Expressway and Subic-Clark Tarlac Expressway.
The operator of NLEx and SCTEx said net income hit P3.4 billion in January to September, up from P2.9 billion recorded in the same period last year.
Total revenues ending September reached P8.6 billion, or 9 percent higher than P7.89 billion last year due to the steady increase in traffic at NLEx and SCTEx and steady revenue contributions from non-toll business operations.
Toll revenues grew 9 percent to P8.5 billion from last year’s P7.8 billion.
The average daily traffic at NLEx dreached 233,332 daily entries, or 7 percent higher than same period last year, while traffic at SCTEx increased 22 percent to 53,407 daily entries.
Non-toll revenues rose 14 percent to P122 million from P107 million a year earlier, on higher royalty fees, utility facility fees and other non-toll initiatives. Darwin G. Amojelar