Toll road and infrastructure operator NTR reported a 59 per cent rise in half-year revenues mainly due to strong growth in its waste disposal and wind energy subsidiaries.
Profit in the first six months of 2003 was euro6.7 million (euro7.4 million in 2002). NTR said profits were adversely affected in the January-June period due to the start-up costs associated with two new businesses, Materials Recovery Limited (UK) and Irish Broadband, and the once-off gain on the disposal of a property in last year's results.
Group operating profit at euro9.8 million, 3 per cent ahead of last year. NTR announced an interim dividend has been increased by 10 per cent to 9.92 cent per share.
NTR's roads division completed the construction of the second West Link Bridge within budget and on schedule. The company was selected to operate and manage the M1 Dundalk Drogheda toll plaza on an interim basis; the plaza became operational in June 2003.
The benefit to the public purse from both the West-Link and East-Link toll scheme operations amounted to euro12.5 million.