HWY. 407 COMPANY SEES CLIMBING REVENUES

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.

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