Toll operator sees profits rise despite fall in revenue

The operator of the tolled €295m M8 Rathcormac-Fermoy bypass in Co Cork last year marginally increased its pre-tax profits in spite of the cost of using the road going down.

Accounts filed by Direct Route (Fermoy) Ltd to the Companies Office show the firm increased its pre-tax profits from €961,228 to €964,909 in the 12 months to the end of December last.

The company increased its pre-tax profits despite revenues falling 4.7%, from €16.59m to €15.8m.