Manila Standard reports, “The tollway unit of San Miguel Corp. said [yesterday] it posted a 27-percent increase in first-half net income on higher toll revenues and lower expenses. SMC SLEX Inc., formerly South Luzon Tollways Corp., logged a net income of P2.01 billion [37.8 million USD] from January to June, up from P1.58 billion [28.4 million USD] in the same period last year. Revenue from toll operations amounted to P3.41 billion [61.38 million USD], up 10 percent from P3.12 billion in the same period last year.” SLEX reported that average daily traffic — 351,024 — was five percent lower than in the corresponding period of 2022, “reflecting the impact of the Seamless Project which removed the TR3 toll plaza which had an open system with a separate traffic count.” (The change in volume did not reduce toll revenue.) The company noted that it reduced costs by three percent over the first half. This year, SMC SLEX has a capital budget of P7.4 billion (133.2 million USD), which will partially fund its construction of the new Batangas to Lucena tollway and also cover South Luzon Expressway repair and maintenance. (TRN inserted a link in quoted text.)
