NLEX profit dips 46%

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    Metro Pacific Tollways Corp. unit NLEX Corp. reported a 46-percent decline in profit in the first half of the year, attributed to lower traffic volume due to the imposition of the Luzon-wide enhanced community quarantine.

    NLEX, which operates the North Luzon expressway (NLEx) and Subic-Clark-Tarlac expressway (SCTEx), said its net income stood at P1.6 billion in January to June, down from the P3 billion posted in the same period last year.

    Toll revenues dropped 32 percent to P4.9 billion in the first semester, from P7.29 billion in the comparable period last year.

    As of June 30, 2020, average daily traffic in NLEx reached 175,741 vehicle entries, and 42,226 daily vehicle entries in SCTEx.

    Compared to last year, the daily average vehicle entries in NLEx and SCTEx fell by 34.5 percent and 40.4 percent, respectively.

    Revenues from advertising, toll services and utility facilities and rental and service income during the period amounted to P96 million, lower by 35 percent compared to a year ago.