Coin mountain on NTR toll bridges worth £5.4m profit

THE hypnotically regular clink clink of small change dropping into buckets on the West Link and East Link toll bridges built …

THE hypnotically regular clink clink of small change dropping into buckets on the West Link and East Link toll bridges built up into a coin mountain last year for the operators, National Toll Roads (NTR).

With increasing numbers of vehicles on the Republic's roads, the company's two toll bridges are being used with greater frequency. The WestLink bridge drew record revenue, particularly since the opening of the Northern Cross from Blanchardstown to the airport motorway. The fully owned West Link is the turbocharged jewel in NTR's revenue earning motor. Toll revenue rose from £6.5 million to close on £9 million. In contrast, business at the 58 per cent owned East Link toll bridge was sluggish, with income up from £4 million to £4.4 million. Nonetheless bumper to bumper income from the two bridges rose 31 per cent to £10.3 million, producing a 70 per cent acceleration in pre tax profits, which raced ahead 70 per cent to £5.4 million.

Conor Holdings, the Roche investment vehicle with 38 per cent of the NTR equity, will receive just over £1 million in dividends with a further £1.8 million going to institutional shareholders not, presumably, in coins.