Toll firms boast wider margin
By Ding Yining |
April 10, 2012, Tuesday
|
Print Edition
Print Edition
THE gross profit margin of China's expressway operators surprisingly surpassed that of liquor producers and property developers, according to latest statistics.
Of the 19 listed expressway companies, 13 of them reported in their annual report an average gross margin rate of 56.08 percent in 2011 due to a rise in tolls income as more vehicles take to the roads.
Chongqing Road & Bridge Co's 91.1 percent of gross profit margin was higher than the 90.95 percent of Kweichow Moutai in 2010 at a time when liquor makers were generally thought to be making excessive profits.
Last year, the profit of Chongqing Road & Bridge surged 132 percent to 212 million yuan (US$33.7 million).
A report last month from the Chinese Academy of Sciences said there are around 74,000 kilometers of expressways nationwide, but there are no details of how many tolled expressways are operating.
The Ministry of Transport said toll charges totaled 285.9 billion yuan in 2010.
The expressway operators are also expanding to other sectors such as property development and financing.
Of the 19 listed expressway companies, 13 of them reported in their annual report an average gross margin rate of 56.08 percent in 2011 due to a rise in tolls income as more vehicles take to the roads.
Chongqing Road & Bridge Co's 91.1 percent of gross profit margin was higher than the 90.95 percent of Kweichow Moutai in 2010 at a time when liquor makers were generally thought to be making excessive profits.
Last year, the profit of Chongqing Road & Bridge surged 132 percent to 212 million yuan (US$33.7 million).
A report last month from the Chinese Academy of Sciences said there are around 74,000 kilometers of expressways nationwide, but there are no details of how many tolled expressways are operating.
The Ministry of Transport said toll charges totaled 285.9 billion yuan in 2010.
The expressway operators are also expanding to other sectors such as property development and financing.
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