Irish Ferries generated revenues of €352.9m in the first 10 months of the year, representing a 4.4% increase on the same period last year.
Over the period, the ferry line carried 588,700 cars – an increase of 12.2%, year-on-year.
The ferries division was the high point of the year, to date, for parent group Irish Continental Group (ICG), whose overall revenue slipped by nearly 2%, year-on-year, to €491.4m.
This was mainly due to an underperforming container and terminal division, where revenues fell by over 13% to €165.4m.
In its latest trading update, ICG said: “We have been impacted by the weak deep-sea market in the first half of the year. This has resulted in a material drop in volumes in our container and terminal division. This is a result of continued weak export and import levels in China, the continued effect of over stocking following the Covid-19 pandemic and subsequent supply chain difficulties and the slowdown in world economic growth. Our flexible business model has allowed us to adjust our shipping capacity to match the current demand situation.”
