Irish Ferries owner reports rise in turnover to €308.8m

Increase in revenues led by strong performance in Irish Continental’s ferries division

Irish Ferries carried 370,700 cars in the first ten months, an increase of 1.6 per cent on the same period a year earlier

Irish Ferries carried 370,700 cars in the first ten months, an increase of 1.6 per cent on the same period a year earlier

 

Revenue at Irish Continental Group rose by 8.2 per cent to €308.8 million in the first 10 months of the year.

In a trading update, the group said higher turnover was achieved across all it businesses, with its ferries division performing particularly strongly, with revenues up 7.1 per cent at €184.3 millio.

Irish Ferries carried 370,700 cars in the first 10 months, an increase of 1.6 per cent on the same period a year earlier. These volumes were achieved against a decision to suspend sailings on the tourism oriented fastcraft during the low tourism winter season.

Freight carryings amounted to 283,000 roll-on/roll-off (RoRo) units, up 10.5 per cent on an annual basis.

Total revenues in ICG’s container and terminal division for the first ten months amounted to €131 million, a 9.1 per cent increase on the prior year.

ICG said during the ten months to the end of October, it returned over €26 million to shareholders and invested in excess of €25 million in expanding and improving its fleet.

Net debt at the end of October was €118.8 million, the company said.