Friday 15 December
Powered by Ajaxy
Nov 15, 2017 @ 17:33

SMC tollways unit posts lower earnings in 9 months


The tollways unit of San Miguel Corp. said net income fell 15.5 percent in the nine months to September to P2.18 billion owing to higher operating expenses.

In the third quarter, net earnings of South Luzon Tollways Corp. dipped 14.8 percent to P720.39 million.

Revenue from toll operations rose 6.69 percent to P4.3 billion due to the continuous expansion of housing communities and consumer socio-economic activities in the south of Manila .

“These development enhanced the volume for class 1 vehicles. Traffic volume for Class 3 vehicles also went up mainly due to the thriving Calabarzon, the second most densely populated region after NCR,” SLTC said.

SLTC’s operating expenses increased to P129.11 million from P62.71 million last year.

Tags: , , , , , , , ,

Related Stories
The tollway unit of diversified conglomerate San Miguel Corp. has earmarked P466.3 million for repair
Thousands of Filipinos in the Middle East chose to go home.
Emirates Airlines on Sunday agreed to purchase 40 Boeing 787-10 Dreamliners for $15.1 billion at
ABS-CBN Corp. expects to end the year with net earnings of nearly P3 billion despite


Trending News

Recommended on sister sites

Copyright © 2017 Bilyonaryo -