NLEX Corp. said over the weekend net profit grew 64 percent last year on higher vehicle traffic volume and toll rate adjustments implemented last May .
The operator of North Luzon Expressway and Subic Clark-Tarlac Expressway (SCTEx) reported a net profit of P5.6 billion in 2021 from P3.6 billion in 2020.
The company attributed the growth in profit to higher traffic volume, increased cost efficiencies and the impact of toll rate adjustments implemented in May.
NLEX’s consolidated total revenues amounted to P14.1 billion last year from P10.97 billion in 2020. Of the company’s total toll revenues in 2021, 84 percent came from NLEX while 16 percent was contributed by SCTEX.
The average daily traffic in NLEX in 2021 reached 252,216 daily entries, while SCTEX registered an average daily traffic of 56,382 vehicle entries.