NTR moves away from toll roads

INFRASTRUCTURE company NTR continued to reduce its dependence on toll roads last year as it saw substantial growth in its waste and energy businesses.

Overall turnover rose 47% to €211 million but pre-tax profits increased by just 9.1% to €16.8m, reflecting the group's investment in developing businesses that have yet to reach their full potential.

Chief executive Jim Barry said the group was in a "transitional" phase and that the full benefits of its diversification from toll road operator to general infrastructure developer would not be felt until late 2004 and 2005. Mr Barry said the group had a well-balanced portfolio of businesses at different stages of development and this would provide strong and sustainable growth in the years ahead.