TORONTO, Ont. — The owner and operator of the Toronto-area’s 407 ETR toll highway, 407 International Inc., had revenues of $47 million in the first quarter.
That’s up 27 per cent from $37 million a year earlier.
The company however suffered a net loss of $19 million in the quarter, down from $31.3 million a year earlier.
The company’s financial losses are due in part to the financing of the purchase of the highway, which runs east-west across the top of Toronto.
It acquired the road from the Ontario government in May of 1999 for $3.3 billion.