NLEX Corp. said net income rose 6 percent in the first semester from a year ago on sustained vehicle traffic growth across North Luzon Expressway and Subic-Clark Tarlac Expressway and following toll adjustments.
The operator of NLEX and SCTEX posted a net profit of P3.03 billion from January to June, up from P2.85 billion in the same period last year.
Consolidated net revenues increased 11 percent in the six-month period to P7.44 billion from P6.68 billion in the same period last year.
NLEX attributed the growth in net income to the higher traffic volume in NLEX and SCTEX and incremental toll revenues arising from the toll adjustments that took effect on March 21 for NLEX and June 14 for SCTEX.
Average daily traffic at NLEX reached 268,222 daily vehicle entries, up by 5.3 percent from the same period last year, while average daily traffic in SCTEX reached 70,809, higher by 12.2 percent than the previous year.
The company said that in addition to toll revenues, it also generated revenues from advertising, toll services, and utility facilities and rental and service income amounting to P147 million in the first half, higher by 47 percent than P100 million posted in the same period last year.
NLEX earlier said it planned to submit a proposal to the Toll Regulatory Board to build a P20-billion extension of North Luzon Expressway from San Fernando, Pampanga to Dinalupihan, Bataan or the NLEX Phase 3.
NLEX Phase 3 with an estimated cost of P20 billion is a 40-kilometer, 2×2 lane expressway from San Fernando to Dinalupihan.
Phase 1 of NLEX consists of four segments with a total length of 92 km, including the rehabilitated and expanded 84-km stretch from Balintawak, Quezon City to Mabalacat, Pampanga and the 8.5-km Segment 7 from Hermosa, Bataan to Subic Freeport.
Phase 2 of NLEX consists of four segments with a length of 21 km involving the construction of the greenfield northern C5 to connect the existing C5 from C.P. Garcia Ave. in the University of the Philippines complex in Diliman, Quezon City to NLEX and extending westward to MacArthur Highway in Valenzuela City, before turning south down to C3 in Caloocan City.
North Luzon Expressway now spans 95 kilometers, or 527-lane kilometers, and serves an average of 237,046 vehicles a day. 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 to La Paz, Tarlac, connecting the special economic zones in Subic and Clark to Tarlac City.
