National Toll Roads today reported a 131.4 per cent in revenues to euro 38.2 million. But the group’s profit fell by euro 2 million to 4.6 million because of the anticipated increase in the municipal rates bill at West-Link.
Commenting on the results Mr Richard Hooper, chairman of NTR said the group anticipated further development and growth for the remainder of the year.
"The full year results will continue to reflect the relative maturity of the existing toll operations and the increased investment necessary to exploit these growth opportunities in roads, waste, energy and water/wastewater". Mr Hooper added.
NTR said the State received euro 9.5 million from licence fees, profit contributions, corporation taxes and municipal rates.
The licence fee at West-Link alone was euro 4.4 million, NTR said.
Traffic at West-Link toll road increased by 4.2 per cent to 12.4 million vehicles, with toll income increasing by 4 per cent to euro 15.9 million.
Volumes at East-Link decreased by 5.3 per cent to 3.6 million vehicles, with toll revenue remaining constant at euro 3.6 million.
The company said its the electronic toll collection system Eazy Pass which was launched in June has already attracted 8,000 customers.
Progress continued with the construction of the second bridge at West-Link and is anticipated that the project will be finished in two years.
The acquisition of 76.9% of Celtic Utilities Limited, the Company's joint venture partner in Celtic Waste, was completed on Friday last, August 31st, 2001. NTR has increased its beneficial interest in Celtic Waste to 88% and also has acquired a 38% beneficial interest in Celtic Anglian Water, the leading player in the emerging water and waste sector in Ireland.