National Toll Roads, in announcing its preliminary results for 2000, said that turnover increased by 68% from 25.4 million euro in 1999 to 42.7 million euro.
The infrastructure developer with road, waste management and energy businesses, said that after tax profit was largely unchanged at 14.5 million euro (14.8 million euro in 1999).
In a statement, NTR said growth in revenue was largely attributable to the first full year contributions of Celtic Waste and Eirtricity which reported revenues of 11 million euros and 5.7 million euros.
Earnings per share for the year was 64.4 cents from 65.8 cents in 1999. The Board is recommending a final dividend of 35.6 cents per share, which will bring the total dividend for the year to 52 cents.
Commenting on the results, Jim Barry, who became CEO last January, said: 'Each of our three businesses operates in industries with significant growth potential in the short and medium term. We have built leading positions in each of the respective industries from which to exploit that growth.'
In a statement, the company said that traffic increased by 5.4% to 24.6 million vehicles at the West-Link toll bridge. Gross toll revenue there rose by 6.3% to 31.5 million in 2000. At the East-Link, traffic was up 1.9% to 7.6 million vehicles and toll revenue rose by 9.5% to 7 million euros.
NTR added that progress continued with the preparation for the construction of the second bridge at West-Link. Building there is expected to start this June or July with an anticipated 24 month construction period.
In its full year of operation, Celtic Waste produced a very strong performance, according to NTR. Significant progress was made during 2000 in securing sites with potential as waste disposal or transfer facilities. Last December, the company acquired Noble Waste, one of the largest waste operators in the Dublin area.
National Toll Roads also has a consolidating 51% interest in eirtricity, which started selling renewable electricity to customers after the deregulation of the Irish market last year.
By the end of 2000, eirtricity had over 6,000 small commercial customers with an annual value of bills of about 25 million euros. NTR recorded a loss of 1.3 million euros for its eirtricity operations.
