M6 Toll takes extra £10 million as drivers avoid motorway roadworks
Roadworks on the M6 have helped boost takings on the rival M6 Toll by more than £10 million and saw an extra two million customers using the UK's only private motorway.
That slashed losses at the toll road operating company Midland Expressway, from £28.6 million down to £18.5m last year.
Midland Expressway's accounts for 2015, which have just been filed at Companies House, underline how the M6 Toll has benefited from drivers fleeing long delays on the clogged M6 artery through the West Midlands.
Additional traffic as a result of the UK's improving economy, lower fuel prices and continuing works on the M6 all helped drive growth on the M6 Toll.
In particular it benefited from the major southbound roadworks on the M6 and the work between junctions 13 sand 10a on the Highways England SMART motorway scheme, which is designed to relieve congestion in the long term. In the short term the work meant a total of 17.4 million customers used the paid-for motorway during 2015, up from 15.4m the year before. Average daily traffic was up 12.6 per cent to 47,589.
That meant overall revenue from tolls was up to £79.6 million last year, from £69.5m in 2014. Midland Expressway also made an additional £700,000 from the M6 Toll's service station at Norton Canes, which saw its income rise to £3.3 million.
The business made a profit on its operations of £51 million but this was wiped out by £69.5m in interest payments, most of it on the £631m owed to Australian parent company Macquarie Motorways for the cost of building the 17-mile motorway, which opened in 2003.
The banks that now own the company put it up for sale earlier this year but there is now word in the report on how much progress those efforts have made.
Instead, it focuses on planned M6 roadworks that could help drive more traffic to the toll road, in particular new SMART motorway works due to start in January and run for 18 months.
But Midland Expressway said: "The benefit to traffic flows on the M6toll experienced in 2015 as a result of roadworks is expected to reduce somewhat in 2016 after completion of all works."
Bosses are now pinning their hopes on 'significant distruption' to the M6 for forthcoming work on the HS2 high speed rail line from London through the Midlands.
"The company is seeking to develop a strong working relationship with the HS2 team to ensure that the M6toll assists this development in the most effective way possible."
