Profits slide at Aircoach after 'difficult' year
The company behind Aircoach, the bus service that serves Dublin Airport, has reported a slide in profits after a year of "difficult trading conditions".
Increases in the cost of fuel, labour and rents have impacted on the firm's margins, said Last Passive Ltd.
The firm said a fall-off in passenger numbers at Dublin Airport was another reason for the difficult year. Directors believe the firm will remain profitable.
Turnover for the 52 weeks ended March 2010 went from €18.6m to €16.9m, while pre-tax profits slid from €1.5m to €210,899. The company is part of the UK FirstGroup plc. It employs 210 staff and had employment costs of €7.4m.
The company had to absorb €129,286 of redundancies, and €2.5m of bus rental payments.