Tolled bypass operator Directroute posts 79% increase in pre-tax profits

THE operator of the tolled €283 million Rathcormac- Fermoy bypass in Co Cork had a 79% increase in pre-tax profits last year to €961,228.

According to accounts just filed by Directroute (Fermoy) Ltd to the Companies Office, they show the firm recorded the increase in pre-tax profits after revenues increased from €16.2m to €16.5m in the 12 months to the end of December last.

However, the company’s cash earnings from the tolled route amounted to €9.49m last year after the large non-cash cost item of depreciation amounting to €7m was recorded.