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NLEX earns 16% more in 9 months

MANILA, Philippines — Net earnings of NLEX Corp. rose 16 percent in the first nine months from a year ago, driven by higher revenue and traffic on tollways.

In a filing, NLEX said its net income reached P3.39 billion as of end-September, higher than the P2.93 billion in the same period a year ago.

Revenues grew to P8.60 billion in the nine-month period from the previous year’s P7.89 billion.

NLEX attributed the higher revenue “to the steady increase in traffic in both the NLEX and SCTEX and steady revenue contributions from its non-toll business operations.”

The 95-kilometer NLEX connects Metro Manila to Central and Northern Luzon.

It served an average of 233,332 vehicles per day from January to September, up seven percent year-on-year.

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The SCTEX, on the other hand, is a 94-km expressway from Subic-Tipo in Olongapo, Zambales to La Paz, Tarlac.

As of end-September, the average daily traffic for SCTEX grew 22 percent year-on-year to 53,407 vehicles.

Non-toll revenue of NLEX grew 14 percent to P122 million in the January to September period from P107 million in the same period last year due to higher royalty fees, utility facility fees and other non-toll initiatives.

NLEX’s costs of services declined slightly to P3.36 billion as of end-September from P3.35 billion last year.

Metro Pacific Tollways Development Corp., the parent company of NLEX Corp., is a wholly owned subsidiary of Metro Pacific Tollways Corp. (MPTC).

MPTC is owned by infrastructure conglomerate Metro Pacific Investments Corp. (MPIC).

Apart from tollways, MPIC is engaged in other businesses such as water, power, hospitals, rail and logistics.

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