M25 operator records £64m profit despite several closures and traffic issues
The operator of the M25 has recorded record profits in 2024. Connect Plus, the consortium behind the M25's operations, has raked in a staggering GBP64 million profit in 2024, setting a new record. The group, which includes Balfour Beatty, Egis Investment Partners and the American hedge fund GCM Grosvenor, manages one of the UK's largest private finance initiative (PFI) contracts.
For 15 years, they have been at the helm of the UK's busiest motorway on behalf of National Highways, the government agency responsible for England's major A-roads and motorways. Companies House records show that Connect Plus's pre-tax profits jumped from GBP55.3 million in 2023 to just over GBP64 million by March 2024, with turnover also seeing a significant increase from GBP219.7 million to GBP261.9 million. Despite being a 'shadow toll' road where the government pays per vehicle to the private operators instead of drivers, the M25[1] carries about 15 per cent of all UK motorway traffic.
For 15 years, the private group has been at the helm of the UK's busiest motorway on behalf of National Highways
This financial windfall comes amidst several weekend closures and persistent traffic congestion issues on the M25 this year, including closures in March, May, and July to facilitate construction work aimed at increasing the route's capacity.
Notably, the March closure for the demolition of the Clearmount Bridleway bridge between junctions 10 and 11 marked the first planned daytime full-lane shutdown of the M25. While Connect Plus didn't make the decision to close the road earlier this year, any decrease in vehicle numbers would have affected its revenue growth due to the terms of its contract, reported by City AM[2].
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References
- ^ M25 (www.mylondon.news)
- ^ City AM (www.cityam.com)
- ^ MyLondon (www.mylondon.news)
- ^ All you need to do is click this link and select 'join community'. (chat.whatsapp.com)
- ^ MyLondon (www.mylondon.news)
- ^ can read our privacy notice (www.reachplc.com)
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