MANILA – Toll road operator Metro Pacific Tollways Corp. (MPTC) said it is on track to meet this year’s target revenue of P8 billion on the back of higher revenues from the Manila Cavite Toll Expressway (Cavitex).
MPTC chief financial officer Christopher Daniel Lizo said revenues from Cavitex will augment revenues from the South Luzon Expressway (SLEx).
“We are on track because of Cavitex,” Lizo said.
Toll revenues of MPTC jumped 20 percent to P4.1 billion in the first half of the year from P3.42 billion in the same period last year as average daily vehicle entries increased by five percent to 173,175 from 164,415.
MPTC’s core income also grew 27 percent from P810 million in last year’s first semester to P1.03 billion in 2013, which translated to a 21 percent surge in net income from P808 million to P981 million.
MPTC infused P6.8 billion and took over the 14-kilometer Cavitex in 2012 through a financing and cooperation agreement with Cavitex Holdings Inc., formerly Coastal Road Corp.
MPTC, the largest toll road operator in the country, has allocated over P41 billion for the construction of major road projects over the next five years.