Annual deficit decreases, but CIÉ loses €4m

CIÉ saw a reduction in its annual deficit last year, but still lost €4 million as traffic gridlock and a pay rise for workers drove up costs at the State-owned company.

The company was also hit by a €20m restructuring cost at Iarnród Éireann.

Group turnover for the year was ahead by 5% at €661.9 million before the State subvention added a further €262.4 million.