Strong growth in toll income at the West-Link bridge in Dublin was the main driving force behind another good six months of trading at National Toll Roads, with after-tax profits rising more than 26 per cent to €7 million (£5.5 million).
The group has also made its first step outside the toll road business by paying €6.3 million for a 50 per cent stake in Celtic Waste, a company which is developing a landfill waste disposal site and recycling facility in Kildare.
The company is hugely cash-generative and the strong profit was generated despite a 30 per cent increase in the licence fee paid to the State for the WestLink to €3.6 million and a 15 per cent increase in the half-year dividend to 16.2 cents. The total cost of the dividend was almost €3 million. Traffic across the West-Link increased by 14.6 per cent to 11.2 million vehicles with toll revenues up almost 15 per cent to €14.3 million The company is currently in discussions with the National Roads Authority on its proposal to build a second toll bridge adjoining the West-Link.
Volumes on the East-Link bridge were up 1.4 per cent to 3.7 million vehicles with revenues up 2.3 per cent to €3.1 million. Chairman Mr Richard Hooper said the group was looking at growing through involvement in a variety of infrastructural projects as well as becoming involved in the Government's public private partnership programme.
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