Dublin Airport growth drives revenues at Aircoach to €30.2m
‘Strong passenger numbers’ lead pre-tax profits to increase to €4.7m
Profits rise at Aircoach on back of revenue growth
The growth of Dublin Airport and the increase in city-based events in Dublin were key to the increase to €30.2 million in revenue at private bus operator Aircoach last year, according to its directors.
Accounts for Last Passive Ltd show an increase in slight revenue to €30.2 million from €29.8 million and pre-tax profits of €4.719 million in the 12 months to the end of March 30th last.
Numbers employed at the company increased from 200 to 216 as staff costs went up from €8.8 million to €9 million due to need for additional drivers.
Aircoach’s services connect Dublin Airport to Dublin city centre, Belfast and Cork.
According to the report “there was strong passenger numbers and turnover growth on all other routes, other than Cork which experienced competition from other operators”.
The report said that there was an increase of €400,000 in traffic costs where third-party coach hire was required to cover additional events.
The company paid out a dividend of €4.5 million to its UK parent, FirstGroup plc last year after paying a dividend of €3.8 million in fiscal 2018.
Remuneration for directors decreased from €277,000 to €195,000.
Shareholder funds at the end of March totalled €850,000.
The company’s cash declined from €1.53 million to €1.2 million.