NLEX Corp. has reported a 24-percent surge in net income in the first half of the year, driven by stronger revenues and prudent cost management measures.
The company, which operates North Luzon Expressway (NLEX), Subic-Clark-Tarlac Expressway (SCTEX) and the NLEX-South Luzon Expressway (SLEX) Connector Road, said it posted a P5.6 billion net income in January to June, compared to P4.5 billion in the same period last year.
Its revenue grew by 20 percent to P12.4 billion in the first semester from P10.4 billion a year ago, due to the increase in traffic, toll rate adjustments and added revenue stream from the newly-opened NLEX-SLEX Connector Road.
Average daily traffic for the NLEX reached 336,993 vehicle entries, higher than 2023 figures by 4 percent, while average daily traffic in SCTEX reached 81,618 vehicle entries or up 1 percent compared to last year.
The NLEX-SLEX Connector Road, which is still in the ramp-up stage since the start of toll operations last August 2023, posted a 43 percent growth rate in average daily traffic for the six-month period compared to the five-month average in 2023.
All vehicle classes registered double-digit growth, with Class 1 revenues growing by 18 percent, Class 2 by 23 percent and Class 3 by 21 percent, the company said.
