SLEX operator posts lower profit in 2017
MANILA, Philippines — Net income of the South Luzon Expressway (SLEX) concessionaire declined 17.5 percent in 2017 from a year ago due to higher expenses.
In a filing, South Luzon Tollway Corp. (SLTC) said it posted a net profit of P2.96 billion last year, down from P3.59 billion in 2016.
Revenue from toll operations rose 6.6 percent to P5.81 billion in the previous year from P5.45 billion in 2016.
Cost of services also went up 8.8 percent to P1.47 billion last year from P1.35 billion in 2016.
Operating expenses also grew 36.6 percent to P208.43 million last year from P152.54 million in 2016.
SLEX currently spans 36.1 kilometers from Alabang, Muntinlupa to Sto. Tomas in Batangas.
It is among the major expressways linking Metro Manila to the key southern provinces including Cavite, Laguna, Batangas, Rizal and Quezon.
SLTC is a unit of San Miguel Corp. (SMC).
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