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Company accounts for Directroute (Fermoy) Ltd show 2014 as being a strong year, recording profits equating to over €142,000 per week. Photo: Eoin Scanlon

Directroute (Fermoy) Ltd, the company that operates the Rathcormac-Fermoy bypass, recorded increased operating profits of €7.48 million in 2014, translating to over €142,000 each week. This is an increase from €7.44 million in 2013, with revenues at the firm increasing by 2 per cent, up to €16.39 million. 

Accounts filed by the company show that pre-tax profits rose by almost 35 per cent to €2 million in the 12 months to the end of December. The increased revenues, according to the directors’ report, were due to a steady increase in motorists using the road.

“It is expected that traffic levels will increase in the future as motorists continue to recognise the benefits of the motorway in terms of safety, convenience and road quality,” they stated.

They added that operating profits were higher than expected as some infrastructure upgrades were not finished and invoiced in 2014. “The maintenance and upgrade programme will be continued in 2015 and profits are expected to reduce as a result of this investment.”

The road was constructed at a cost of €295 million and opened in October 2006, which relieved considerable traffic congestion problems in Fermoy at the time. It is estimated that the bypass has removed 17,000 vehicles each day from the town centre, shortening peak-time journeys by 30 minutes.

Directroute (Fermoy) Ltd will continue to operate the bypass until 2034, when it will hand it back to the National Roads Authority.

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