Irish Ferries has seen a strong start to the year, with revenues up nearly €20m in the first half of the year and profit ahead by nearly 80%.
The ferry company generated revenues of €197.6m for the first six months of this year, compared to €179.8m for the corresponding period last year.
Operating profit jumped from €5.3m to €9.5m, year-on-year.
The figures formed part of the half-year financial results of parent group Irish Continental Group (ICG), which also owns the Eucon freight business and ferry terminal businesses in Dublin and Belfast.
On a group basis, ICG posted first-half revenues of €285.5m; €21.5m up on last year; and operating profit of €17.4m, compared to €16.2m for the first half of 2023.
ICG chairman John B. McGuckian said: “The Ferries Division has seen strong growth of 21% in passenger car and 10.5% in roll on roll off freight carryings, as well as good growth in revenues and profitability.”
“Our position on the Dover – Calais route was strengthened this year with the agreement of a space charter on this route with P&O Ferries, allowing for space sharing on each parties’ vessels encompassing both freight and passenger traffic. As previously announced, the initial focus was to start introducing the space sharing for our freight customers over the summer allowing them to benefit from the advantages of a turn up and go service. We are now focused on introducing this space charter for our passenger traffic. When fully implemented, the agreement will result in greater flexibility and more choice for all our customers.
“Further strengthening our position on the Dover – Calais route was the introduction of the Oscar Wilde. This vessel entered service with Irish Ferries in June of this year and has enhanced both our customer offering on the route and increased our capacity.”
