SMC SLEX Inc., formerly South Luzon Tollways Corp., reported a 27 percent increase in net income to P2 billion in the first half of the year from P1.58 billion a year ago, due to higher toll revenues.
For the first six months of 2023, toll revenues amounted to P3.4 billion, growing by 10 percent from P3.12 billion in 2022. The average transaction mode for the period was 77 percent via radio frequency identification and 23 percent was cash.
As of end-June, South Luzon Expressway recorded an average daily traffic of 351,024, lower by 5 percent from the 368,683 average traffic in the same period last year, reflecting the impact of the seamless project which removed the Toll Road 3 toll plaza which had an open system with a separate traffic count.
“The reduction in traffic count under the seamless project has no impact on the toll revenue,” SMC SLEX noted.
