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Operating profits of €7.43 million for 2013 were recorded by Directroute (Fermoy) Ltd. Photo: iStock

The operators of the Rathcormac-Fermoy bypass recorded operating profits of €7.43 million last year, which translates to over €140,000 each week.

Directroute (Fermoy) Ltd accounts show the company increased its operating profits by eight per cent in 2013, due to increased levels of traffic using the bypass. Revenues rose by three per cent to €16 million. The company say profit was higher than expected, as weather and contractor-scheduling issues delayed planned road improvements last year. 2014 profits are expected to decrease as a result of these works occurring.

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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