Losses at toll road company rise 63%

Pre-tax losses at the firm that operates the tolled €810m Limerick tunnel last year rose 63% to €8.3m.

According to accounts just filed with the Companies Office, Directroute (Limerick) Ltd sustained the €8.3m pre-tax loss after revenues dropped by 10% from €23.1m to €20.6m.

The directors’ report says: “Revenue is generated by toll charges and payments from the NRA [National Roads Authority]. The largest expense remains the project funding mainly in the form of loans and bonds. Traffic guarantee payments have in increased in line with the contract and providing a necessary contribution to project funding.”