Dublin Bus posts €7.3m trading surplus

Dublin Bus has posted a trading surplus of €7.3m last year, up from €3.4m in 2002 while passenger figures rose 2.3%, the company's 2003 annual report has revealed.

Turnover was up 8.5% over the 2002 figure to €173m while the money received from Government was down to €53.8m from €56m in 2002.

Revenue growth remained strong despite traffic congestion, which the company estimates is costing around €49m per year.

The large infrastructural works in Dublin's city centre including the LUAS works, the Port Tunnel and the O’Connell Street regeneration were major contributors.

Passenger numbers were up 2.3% last year to €149m and were a main driver of the revenue figures.

This equates to 500,000 passengers per day.

The sale of pre-paid tickets grew by 13.3% in 2003 with 40% of all customers now having pre-paid tickets before boarding Dublin bus services.

Dublin Bus's Bustxt facility - allowing passengers to access timetable information over their mobile phones - was receiving over 100,000 calls per month.

Quality Bus Corridors (QBC's) saw passenger figures continue to rise with a 40% increase at peak times since the initiative began.

Meanwhile the new Harristown depot in South Fingal, Dublin, due to cater for 240 buses is on schedule for completion, under budget at €43m.

It is the first depot to be built by Dublin Bus in 30 years.