MANILA, Philippines - NLEX Corp. sees its revenue growing by five to 10 percent this year from a year ago.
“There are no new projects. It will be driven by traffic really. [We expect] around five to 10 percent [growth],” NLEX Corp. president Rodrigo Franco said when asked for an outlook on revenues this year.
NLEX Corp. generates revenues from the use of tollways such as the North Luzon Expressway (NLEX) and Subic-Clark-Tarlac Expressway (SCTEX) which are being operated by the company.
The firm registered revenues of P10.7 billion in 2016, up 24 percent year on year. Toll revenues grew 24 percent to P10.5 billion.
Average daily traffic in NLEX hit 220,010 entries in 2016 or an increase of nine percent from the year ago.
Traffic for the SCTEX, meanwhile, reached 45,026 daily vehicle entries, 16.6 percent higher than in 2015.
Net earnings of NLEX Corp. grew 37 percent to P4.1 billion.
NLEX Corp., formerly known as Manila North Tollways Corp., is part of infrastructure conglomerate Metro Pacific Investments Corp.(MPIC).
Apart from tollways, MPIC is involved in other businesses such as water, power, hospitals, rail, and logistics.