€2.3m profit for speed van consortium
Xavier McAuliffe-led group records profit of almost €50,000 per week
The Xavier McAuliffe-led consortium that operates the army of speed camera vans across the country recorded operating profits of almost €50,000 per week last year.
The Go Safe consortium secured the €80 million Garda Síochána contract to operate the speed camera vans in 2009. New accounts show the firm recorded operating profits of €3.12 million in the 15 months to the end of March 31st, 2012 – or on average €48,001 per week.
Mr McAuliffe leads the Spectra group and work commenced on the five-year Go Safe contract – with the option of one further year – in November 2010. On average, the vans detect one speeding motorist per hour, or 72,000 per annum.
The cameras operate on roads which have a history of collisions where speed was a contributory factor.
The accounts by Road Safety Operations Ireland Ltd, filed yesterday with the Companies Office, show operating profits were reduced by costs totalling €886,734, resulting in a pre-tax profit of €2.23 million.