NTR motors ahead with 60% revenue increase

National Toll Roads has reported a near 60% increase in revenue for the first six months of 2003.

Ireland's largest private operator of public infrastructure saw revenues reach €96.2m from €60.5m across its road tolling, water, waste and wind energy businesses.

The increase primarily reflects the continued growth in both its waste business operation, Greenstar

and its renewable energy business, Airtricity.

When adjusted for the start-up costs associated with two new businesses, Materials Recovery Limited (UK) and Irish Broadband, and the once-off gain on the disposal of a property in last year's results, operating profit increased 17% and after-tax profit increased by 18%

The interim dividend has been increased by 10% to 9.92 cent per share.

NTR Chief Executive, Jim Barry said today : "We are pleased with progress across the Group, both in terms of the performance of our existing operations and our developmental activity.

"Particularly satisfying is the significant level of infrastructure roll out activity in our main businesses,” he added.

NTR completed the construction of the second West Link Bridge in Dublin within budget and on schedule this year with the official opening set for the end of this month.

The Company was also selected by the National Roads Authority in March to operate and manage the M1 Dundalk to Drogheda toll plaza from June 2003 on an interim basis.