Drop in state support hits Limerick Tunnel profits

A sharp drop in payments by state agency Transport Infrastructure Ireland (TII) to the firm operating the €800m Limerick tunnel contributed to a 26% drop in the company’s operating profits to €6.36m last year. New accounts filed by Directroute (Limerick) Ltd show that payments from TII, made up of operating payments and traffic guarantee payments, decreased by 27% last year from €8.1m to €5.9m.

The tunnel saw increased traffic with toll income rising by 5% to €15.9m — or €43,651 per day — in 2018. The company’s total revenues — made up of toll income and TII payments — decreased by 5% from to €21.83m.