NTR posts €24.9 profit with expanded portfolio

Growth in its waste, renewable energy and its roads division saw infrastructure group NTR post a group operating profit of €24.9m for the year ending December 2003.

This figure, which excluded the impact of losses in start-up businesses, marked a 34% increase on the previous 12 months.

Group turnover was up 47% to €211m for the same period. Basic earnings per share for 2003 were 75.1c - a 10.8% increase on the previous year's figure.

Traffic volume of 35.6 million at the West Link and East Link Bridges constituted a 3.8% increase in business for NTR's roads division.

This came in a year in which the company also opened a second West Link Bridge and saw its CRG consortium awarded the 30-year Public Private Partnership contract for the M1 Dundalk Western bypass.

In its waste division, NTR's Greenstar saw profits after tax rise 12% to €8.2m, with revenues increased by 36% to €75.9m.

In other divisions of the company, Airtricity reported its first year of profit and NTR formally launched its Irish broadband service.

"In 2003, NTR continued to deliver on its objective of being the leading Irish based developer, financier and operator of public infrastructure," said Jim Barry, NTR's CEO.