Highway 407 reports dip in profit
The Canadian Press
Posted: Oct 17, 2012 6:22 PM ET
Last Updated: Oct 17, 2012 7:07 PM ET
Toll highway operator 407 International Inc. said Wednesday it earned $62.5 million in its latest quarter, down from a profit of $73 million a year ago.
The drop in profits came as revenue for the three months ended Sept. 30 amounted to $201.9 million, up from $189.1 million.
The total number of trips in the quarter dipped to 30 million, down from 30.2 million a year ago, while the average revenue per trip rose to $6.72 from $6.26.
The Canada Pension Plan Investment Board owns a 40 per cent of 407 International, while SNC-Lavalin Group Inc. holds 16.77 per cent.
The remainder, 43.23 per cent, is held by Cintra Infraestructuras S.A., a wholly-owned subsidiary of Spain's Ferrovial S. A.
© The Canadian Press, 2012
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