Like TURF
Follow TURFCintra profits on 407 jump 85% due to higher tolls
Note that the reason the toll profits jumped wasn't because more people wanted to take the toll road, it's because Cintra's soaking the existing users with higher tolls to line their own pockets. The public good and taxation accountable to the people gets thrown under the bus with privatized toll roads.
Highway 407 profit up 85% in 2nd quarter
The Canadian Press
Jul 17, 2013
Toll highway operator 407 International Inc. said Wednesday it earned $75.7 million for the second quarter of this year, up from $40.9 million for the same period of 2012.
Revenues for the quarter totalled $205.2 million, up from $188.4 million.
The company, which operates Ontario's Highway 407, said there were 29.6 million trips on the highway, roughly the same as a year ago.
Average revenue per trip increased to $6.92, up from $6.37 in the second quarter of 2012.
The company is owned by a subsidiary of Ferrovial SA, the Canada Pension Plan Investment Board and SNC-Lavalin