Passenger growth drives profit at Bus Éireann
Bus Éireann has reported an operating profit of €1.6m in respect of 2018.
This represents a swing on the loss of €6.8m in 2017.
The group also reduced its deficit to €6.7m from €23.7m in the last 12 months.
The recover has been driven by the implementation of over 60 business “transformation measures” that were introduced in the last two years, together with strong gains in passenger growth, helped by a buoyant economy, Bus Éireann said.
During the year passenger numbers increased by 6.3pc to 83.6 million.
Bus Éireann’s passenger growth numbers are now at their highest since 2008.
Stephen Kent, CEO of Bus Éireann said: “With so much achieved over the past year, I look forward to working with all of the dedicated staff in Bus Éireann, to deliver outstanding service quality whilst ensuring that we build on the financial recovery and the efficiencies gained over the past two years to deliver the best value to the State, to win new customers and to grow and enhance the services which we deliver for over 80 million customers that we serve today.”
“We have ambitious plans for the future to ensure that we support the essential growth of our revenue base with new initiatives, innovation and customer focused service improvements.”
The company, which employs more than 2,700 jobs across the country, generated €58.1m for the Exchequer last year, up from €54.7m in 2017.