CIE says 2013 figures give grounds for ’cautious optimism’ and ’significant challenges’

Bus Éireann and Dublin Bus returned to profit last year while Iarnród Éireann cut its costs by €25m, according to the CIÉ annual report issued yesterday.

The report reveals that, as a whole, CIÉ increased revenues by €40m last year.

However, funding from the National Transport Authority (NTA) and the exchequer has declined by more than that increase and CIE said its group and subsidiaries still faced “very significant challenges”.