Irish Ferries reports strong summer peak trading

Irish Ferries reports strong summer peak trading

Irish Ferries today reported strong trading during the summer peak.

Passenger carryings grew by 1% between July 1 and August 22 over the same period last year.

Irish Ferries saw carryings up by 2% to 1.1 million in the period from January 1 to August 22 while the number of cars handled rose by 6% to 267,900 compared with the same period in 2014.

The ferry company operated more than 2,500 sailings in the first half of the year.

Revenue for the six months to June 30 rose by almost €10 million to 86.5 million with earnings [EBITDA] doubling from €10.3 million to €20 million.

First half passenger carryings increased by 2.6% to 701,600 while the number of cars carried rose by 7.1% to 161,600.

Parent company Irish Continental Group reported a rise in earnings to €25.5 million from €14 million compared to the first six months of 2014.

Chairman John McGuckian said: ''I am pleased to report a strong performance in the first six months of the financial year.

“EBITDA increased by €11.5 million driven primarily by increased RoRo freight volumes, car volumes, lower fuel cost and the relative strength of sterling in comparison to H1 2014.

“This trading momentum has continued over the key summer period and the group is well placed to benefit should these market trends continue for the remainder of the year.''

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