The tollway unit of San Miguel Corp. said Wednesday it posted a 27-percent increase in first-half net income on higher
SMC SLEX Inc., formerly South Luzon Tollways Corp., logged a net income of P2.01 billion from January to June, up from P1.58 billion in the same period last year.
SLEX said it achieved an average daily traffic of 351,024, lower by 5 percent than 368,683 ADT a year earlier, reflecting the impact of the Seamless Project which removed the TR3 toll plaza which had an open system with a separate traffic count. The company’s cost of service went down by 3 percent to P877.72 million on lower repair and maintenance.
The company said the P6.77 billion budget would be used to finance the TR4 Project and SLEX widening project.
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