It has been a bumpy ride but Irish investment group NTR appears to be on the road to recovery.

Accounts for the year to the end of March 2014 show that it made its first profit in five years, while also reducing its borrowings and returning €99 million to beleaguered shareholders.

“We are pretty well at the destination . . . now it’s about growth,” said chief executive Rosheen McGuckian.

Formerly National Toll Roads, the company was best-known as the operator of the West Link cash-churning toll booths in Dublin and as the owner of energy supplier Airtricity.

The sale of Airtricity helped it record a eye-popping profit of €1.06 billion in the 12 months to March 2008. Those were the days.

The global financial collapse in 2008 and some duff investments in broadband, solar energy and waste management led to some painful restructuring for a group co-founded and chaired by Tom Roche.

Last year, NTR took a chunky €8 million out of its central overheads.

The group’s focus is now on wind farms, two “challenged” toll roads in Ireland (the Portlaoise and Waterford bypasses), and an early-stage energy-storage investment in the UK.

Wind portfolio McGuckian’s growth focus is built around adding 150 megawatts of wind capacity to its portfolio over the next two years.

It’s thought to be initially eyeing up a project in Ireland, probably in the North, and it is in talks with various potential partners to raise up to €400 million in debt and equity for any new investments.

In the meantime, single-digit post-tax profits are likely to be the order of the day in the near term. The journey ahead looks smoother.