Traffic growth boosts Plus’ earnings

PETALING JAYA: Plus Expressways Bhd’s net profit gained 13.56% to RM319.56 million for the second quarter ended June 30 compared to a year ago on the back of traffic volume growth for its tolled highways.

Revenue came in 11.32% higher at RM859.74 million.

The highway operator’s net profit for the first-half of 2010 was also 10.47% higher than the same period last year while revenue saw a 10.79% gain.

Plus group managing director Noorizah Abd Hamid said in a news release that the “increase in domestic travelling and rapid development at certain stretches especially in the Klang Valley had also contributed to the traffic growth”.

She added that the growth was in line with the country’s growing economic activities aswell as the low traffic base effect in first half of 2009.