Public transport companies post profits

Bus Éireann, Dublin Bus and Iarnrod Éireann all recorded a profit in 2003.

However, a one off investment in the country's railways left the CIÉ group with a deficit of €4m last year.

CIÉ's annual report has shown that more people are using public transport than at any time over the past 25 years.

Company spokesman Cyril Ferris has said commuters are starting to leave the car at home.

“Iarnrod Eireann is the one that has the greatest growth in terms of passenger numbers and it is at the moment on target to carry up to 44 million passengers by 2007, which is a huge increase," he said.

"Dublin Bus of course is well up in the 150 million passenger journeys a year so for many years to come Dublin bus will be the major player in getting people out of cars and on to public transport.”