Metro Pacific Tollways Corporation reported a 36 percent jump in net income, which include non-recurring foreign exchange losses, in the first half of the year to P607.6 million from P446.5 million registered in the same period in 2008.

During the firm’s annual stockholders’ meeting Thursday, MPTC president Ramoncito Fernandez said core income after tax reached P636.4 million for the first half of 2009, an increase of 6 percent from the P600.5 million in the same period last year.

He noted that the improvement in core and reported net incomes of MPTC for the period is attributable to the higher than expected traffic reported by Manila North Tollways Corporation and the higher contribution
of Tollways Management Corporation.

“Favorable fuel prices together with aggressive marketing strategies to increase electronic tag penetration rate and the promotion of tourism destinations in the North contributed to higher traffic revenues,” said Fernandez. (JAL)