More cars, higher toll lifted NLEX Corp.’s income in first half

NLEX Corp. said over the weekend net income grew 28 percent in the first half from a year ago, driven

The operator of North Luzon Expressway and Subic-Clark Tarlac Expressway said it earned P4.5 billion from January to June, higher than P3.5 billion it posted in the same period last year.

The company said that as of June 2023, average daily traffic on NLEX reached 322,540 daily vehicle entries, higher than the 2022 figures by 16 percent, while average daily traffic in SCTEX went up 14 percent to 80,938 daily vehicle entries. NLEX paid P999 million in concession fees to the Bases Conversion and Development Authority, representing 50 percent of toll revenues on SCTEX.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MlaStandard /  🏆 20. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Extra space at no extra cost’PH1 World Developers, Inc. (PH1WD), the property development arm of Megawide Construction Corp. (Megawide), recently secured a Php3 billion Developmental
Read more »

SM Investments wins Stevie Award for annual reportSM Investments Corp., one of the leading conglomerates in the Philippines, was awarded by Stevie Award as Bronze Winner for
Read more »

RCBC Telemoney ramps up overseas expansion to grow remittance businessRizal Commercial Banking Corp. (RCBC) is poised to grow more partnerships in France, Jordan, and North America, to make remittances more convenient for Overseas Filipino Workers (OFWs). RCBC Head of Retail Cash Management Segment Alvin Perez said the Yuchengco-led universal bank is ramping up efforts to grow its remittance business through…
Read more »

QC gov’t, DMW hold first overseas job fairTHE Quezon City government and the Department of Migrant Workers have partnered to offer over 3,000 land-based and sea-based employment
Read more »

ATI booked 89% rise in first-half incomeAsian Terminals Inc. said Friday net income rose 89 percent in the first half of 2023 from a year ago,
Read more »

First Pinoy death confirmed in Maui firesA 79-year-old Filipino was among the over 100 fatalities in the wildfires that struck Maui in Hawaii, the Department of
Read more »