Dublin Bus will shortly announce a € 3.4 million profit for 2002 on a turnover of € 159 million, writes Emmet Oliver.
The 2002 profit compares with Eur 1.1 million in 2001, although the company would have produced sizeable deficits in both years without the aid of a State grant.
Unions yesterday said the Minister for Transport was deliberately not publishing the figures for 2002 because they did not support his argument for franchising out 25 per cent of Dublin Bus routes.
The National Bus and Rail Workers Union (NBRU) called on Mr Brennan to enter a serious debate about how to develop public transport.
"The latest annual returns for Dublin Bus show it is delivering a better service against the odds," said NBRU general secretary Mr Liam Tobin.
"The company, in partnership with the unions, also boosted passenger numbers by over 3 per cent, proving that public transport can work if left to get on with the job," he said.
The figures show Dublin Bus had a deficit before interest and State grant of 53.7 million in 2002; however, when interest and the State grant were added it produced a profit of € 3.4 million. It received a State grant of 56 million in 2002, compared with 52 million the year before.
The level of State assistance has been rising in recent years after years of under investment by European standards.
A significant chunk of the money has been spent buying new buses and investing in the quality bus corridors, which are understood to be the most profitable parts of the company's operations.
The ratio of employees to buses has also been decreasing from 4.7 in 1997 to three last year. "We have recognised the importance of containing costs, boosting services to the public and achieving higher productivity. The proof of our commitment is there in the figures," said Mr Tobin.
Unions remain implacably opposed to Mr Brennan's plan to franchise out the routes, which he hopes can take place as early as next year.
Mr Brennan has said if he does not take such a step, Europe or the Irish courts are likely to order the market to be opened up to private competition.
