TORONTO - 407 International Inc. (TSX:SNC), the operator of the toll highway north of Toronto, reports a net profit of $8 million for the 2009 first quarter ended March 31.
The profit, reported late Thursday, reverses an $11.9 million loss for the same year-earlier period.
Revenues fell marginally to $119.7 million from $120 million, while total trips on the 108-kilometre toll highway declined slightly year over year, likely because of the impact of the recession on truck traffic.
The company owns and operates the 407 highway, which extends from east to west along the northern border of Toronto.
The consortium is owned by Spanish construction firm Cintra Concesiones de Infraestructuras de Transporte, Australia's Macquarie Infrastructure Group and Montreal-based SNC-Lavalin Inc., Canada's largest engineering and construction company.
