TORONTO - 407 International Inc., operator of the 407 Express Toll Route north of Toronto, says it earned $12.6 million in its first quarter while revenue increased by nearly 10 per cent.
The Toronto-based company said Thursday that revenue for the January-to-March period was $131.2 million, up from $119.7 million a year earlier, when it earned $8 million.
407 said traffic increased slightly in the quarter to 25.6 million trips from 25.1 million trips a year ago. Average revenue per trip was $5.12, up from $4.77 in the first quarter of 2009.
The company's board of directors also declared a dividend Thursday of 7.1 cents per common share, payable on April 15.
407 International is owned by a consortium comprised of Spanish-based Cintra Concesiones de Infraestructuras de Transporte, Australia's Macquarie Infrastructure Group and Montreal-based construction and engineering firm SNC-Lavalin Inc. (TSX:SNC).
SNC's stock was up 20 cents at $51.95 Thursday on the Toronto Stock Exchange.
