NCT operator records €8.13m profit, up 52% on last year
Expanding revenues from the NCT and VRT inspections led to the increased profit
Total revenue for Applus Car Testing Service Limited amounted to €83.18 million in 2016.
Operating profit at the company holding the National Car Test (NCT) contract increased to €8.13 million in 2016, it has reported.
Jumping by 51.9 per cent compared with the previous year, the operating profit increase came on the back of expanding revenues from NCT and Vehicle Registration Tax (VRT) inspections.
Total revenue for Applus Car Testing Service Limited amounted to €83.18 million, up from €80.8 million the previous year, boosted primarily by a €2.78 million jump in revenues from the NCT.
Profit after tax for the Spanish company jumped by over €2 million, or 39.19 per cent, to €7.54 million for the year.
Applus was awarded the NCT contract by the Road Safety Authority (RSA) for a 10-year period starting in 2009. Across the Republic, a total of 1,465,702 cars were tested last year, with an overall pass rate of 47.2 per cent.
Following the company’s healthy performance, it paid a shareholder dividend of €5.42 million.
Applus employed 847 staff in Ireland last year, down slightly on the previous year, and had staff costs of €34.7 million.
In terms of other key indicators for the company, Applus said the number of vehicles tested was ahead of their 2016 forecast while productivity improved marginally during the year.
Applus had not responded to a request for comment by the time of publication.