Profits up at Dublin Port Tunnel company after surge in traffic volumes
A surge in the numbers using the Dublin Port Tunnel last year contributed to pre-tax profits at the company which operates and maintains the tunnel increasing by 2.4% to €1.88m.
New accounts show that the French-owned Egis Road & Tunnel Operation Ireland Ltd recorded the rise in pre-tax profits after revenues went up 15.5% from €14.9m to €17.3m.
Egis Road & Tunnel Operation Ireland Ltd operate the tunnel for Transport Infrastructure Ireland (TII) and total toll income for the port tunnel last year was €21 million - an increase of 12% from 2017.
According to TII the growth was “primarily due to an increase in traffic”.
Total traffic at the Port Tunnel was 8.4 million trips which was a rise of 6% on the 7.9m trips in 2017 and the average daily traffic last year was 23,046.
Along with managing the Dublin Port Tunnel, Egis Road & Tunnel Operation Ireland Ltd also manages the non-tolled Jack Lynch tunnel in Cork and the Motorway Traffic Control Centre.
Numbers employed by the French-owned Egis last year increased from 102 to 106 with staff costs climbing from €5.2m to €5.4m.
According to the directors’ report, they are satisfied with the performance of the company for the year and the state of affairs at the year end date.
The company recorded a post tax profit of €1.64m after paying €240,000 in corporation tax.
At the end of December last, the company had €4.3m in accumulated profits. The firm’s cash pile totaled €8.5m.
