The tollway unit of Metro Pacific Investments Corp. said Tuesday net income grew 38 percent in the first half from a year ago, driven by increased vehicle traffic at North Luzon Expressway and Subic-Clark-Tarlac Expressway.
Manila North Tollways Corp. said net income in January to June reached P2 billion, up from P1.45 billion in the same period last year.
The company attributed the increase in net income to the high traffic growth and toll revenues contributed by the SCTEx concession project.
Six-month revenues climbed 30 percent to P5.28 billon from P4.05 billion a year ago. SCTEx operations contributed P797.8 million to the total revenue.
Average daily traffic at NLEx hit 219,132 average daily entries in the first half, or 9.1 percent higher than 200,872 vehicles in the same period in 2015.