THE private operator of the Luas light rail system in Dublin last year increased the size of its business by 25% to €40 million.
According to returns just made to the Companies’ Office, the increase in business for Veolia Transport Dublin Light Rail Ltd resulted in the company increasing its pre-tax profits by 2% by €2.2m.
Last week, the Luas extended between Busáras Station and the Docklands and the Cherrywood Luas extension is due to open next September.
Veolia Transport secured the increase in turnover and profit despite almost one million fewer passenger journeys last year.
Last year, over 27.4 million journeys were completed on the Luas compared with 28.4 million in 2007 and 25.8 million in 2006.
The filings by the French owned company show that the its operating profits marginally dropped last year from €2.038m to €2.001m.
The accounts show that Veolia Transport employed 221 people at the end of last year – an increase of 12 with staff costs increasing by 13% to €9.9m.
In October of last year, Veolia Transport Dublin Light Rail Ltd secured a contract from the Rail Procurement Agency (RPA) to operate the Luas and its future extensions to September 2014.
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