Dubai’s toll gate operator Salik has announced impressive financial results for the third quarter of 2024. The company reported a net profit of AED822 million, marking a massive 14% year-on-year increase. This strong performance was driven by robust economic activity and increased traffic in Dubai.
Looking ahead, Salik is optimistic about its future performance. The company reportedly expects revenue growth of 25-26% for FY 2025, driven by the recent opening of two new toll gates. For the current fiscal year, it maintains its previous guidance, anticipating a 7-8% increase in total revenue and revenue-generating trips.
Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, said “Salik reported strong third-quarter results, driven by a 5.7% year-over-year increase in revenue-generating trips. The company’s inaugural parking solution at Dubai Mall and the recent opening of two new toll gates are expected to further boost revenue.” He added that Salik is optimistic about Dubai’s economic outlook and its positive impact on the company’s growth, reports Khaleej Times.
Starting November 24, Dubai will introduce two new Salik toll gates: Business Bay and Al Safa South. This will increase the total number of toll gates in the city to 10. Notably, these new gates will implement dynamic pricing, which may result in higher toll charges for motorists.
