Irish Ferries has posted its strongest revenues ever on the back of the continued strong recovery in post-Covid tourism bookings.
The company has reported a 7.1% year-on-year increase in first half revenues, to €179.8m, for the six months to the end of June.
The figures form part of parent group Irish Continental Group’s first half financial results, which showed a 4% jump in earnings to €49m and a 0.3% rise in revenues to €264m. ICG’s business covers both ferry and shipping freight services.
Commenting on the results, Chairman John B. McGuckian noted:
“HY 2023 has been a successful period for the Group. We have benefited from the continued normalisation in passenger travel levels post pandemic in all our markets, growth in our Roll on Roll off (RoRo) freight carryings and the strengthening of our position on the Dover – Calais route.
“This continued return of passenger travel alongside the continued support of our freight customers on both our old and new routes resulted in the highest ever revenue levels in the Ferries Division. This has been partially offset by a reduction in revenues in the Container and Terminal Division which has been impacted by a significant drop in container volumes due primarily to a weakness in the deep sea market. Despite this, the Group reports a record level of revenue in the period of €264m.
“In May of this year, the Group took delivery of the Oscar Wilde. The Group signed a long term charter agreement for a firm period of 20 months with the opportunity to extend the charter by 2 + 2 years. The agreement also gives the Group purchase options over the vessel. The vessel entered service on the Rosslare – Pembroke route for the summer season. With the largest duty-free shopping space for any cruise ferry on the Irish Sea of 17,000 square feet, it is ideally suited to allow the Group to benefit from the return of duty-free shopping on the Irish Sea.”
