SAN Miguel Corp.'s (SMC) tollway unit saw first quarter net income rise 21 percent to P1.16 billion from P964 million a year earlier, driven by increased vehicle traffic and toll revenues.
SAN Miguel Corp.'s tollway unit saw first quarter net income rise 21 percent to P1.16 billion from P964 million a year earlier, driven by increased vehicle traffic and toll revenues.SMC SLEX Inc., the operator of the South Luzon Expressway , said toll revenues reached P1.94 billion, up 15 percent from P1.68 billion last year and with the average transactions at 94 percent for RFIDs and 6 percent for cash payments.
, amortization of service concession rights, provisions for resurfacing and maintenance oblivion, and concession insurance premiums.Operating expenses, however, dropped by 22 percent to P67.3 million due to lower depreciation and amortization, advertising costs, and repair and maintenance expenses for vehicle and equipment.SMC SLEX has allotted P8.06 billion in capital expenditures for 2024 to partially finance its TR4 project and the widening of the existing SLEx.
Operator Posts 21% Rise In Q1 Profit
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