NLEX Corp. said net income rose 25 percent in the first nine months of the year on higher vehicle traffic.
Net income amounted to P4.25 billion in the January-to-November period this year from P3.4 billion year-on-year.
The company attributed the increase in the net profit to higher toll revenues in the North Luzon Expressway and Subic-Clark-Tarlac Expressway and more efficient utilization of resources covering toll operations and maintenance costs.
Toll revenues during the period reached P9.6 billion, up 14 percent on year, due to the steady increase in traffic and steady growth in non-toll revenues.
The average daily traffic in NLEx reached 250,992 daily entries, 7.6 percent higher than 233,332 daily entries recorded during the same period last year.
The average daily traffic for the SCTEx during the period reached 61,071 daily entries, 14.3 percent higher than 53,407 during the same period last year.
Non-toll revenues grew 10 percent from P122 million to P134 million due to an increase in toll service facility fees and placement of advertising materials.
NLEX Ventures Corp., a wholly-owned subsidiary of NLEX Corp., also contributed P13 million mainly from the commercialization of roadway maintenance services.
Repairs and maintenance in the first nine months of the year stood at P257 million, higher by P66 million from a year ago due to the continuing enhancement of several toll plaza equipment along the NLEx and SCTEx.
The NLEx currently spans approximately 95 kilometers or 527-lane kilometers, serving an average of 237,046 vehicles a day in 2017. It is the main infrastructure backbone that connects Metro Manila to Central and Northern Luzon.
SCTEx, meanwhile, is a 94-km, 2×2 expressway stretching from Subic-Tipo until La Paz, Tarlac, connecting the special economic zones in Subic and Clark, Olongapo City, to Tarlac City.
