THE COMPANY that operates Dublin’s Luas light-rail system posted a 17 per cent rise in revenues last year, according to accounts just filed for the year ended December 31st, 2011.
Accounts for Veolia Transport Dublin Light Rail Limited show revenue jumped from €42.28 million in 2010 to €49.42 million last year.
The improvement was due to increased activity, the company said.
The Luas system carried 29.06 million passengers in 2011 compared to 27.4 million in 2010.
Last year also saw the extension of the Luas red line to Citywest.
Pretax profits at the French-owned company were slightly down at €1.874 million, compared to €1.887 million in 2010 as the cost of sales grew from €21.45 million to €25.70 million during the same period. Shareholders’ funds stood at €3.447 million at year end, compared to €3.825 million at the end of 2010.
Veolia Transport Dublin Light Rail Limited employed 285 people on average during the year, mostly in operations. This compared to 247 in 2010. Total staff costs stood at €14.3 million for the year, up from €11.73 million in 2010.
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