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Strong half-year performance for Irish Continental

FinanceIrish Continental Group (ICG), parent company of Irish Ferries, has reported a solid financial performance for the half year that ended 30 June 2016.

Overall revenue has risen by 5.2% to €150.5 million (2015: €143.1 million) and the company's EBITDA is up 19.6% to €30.5 million (2015: €25.5 million). ICG also notes that both RoRo freight and car volumes went up by 5.6% to 139,100 units and by 5.5% to 170,500 units respectively.

Meanwhile, the KAITAKI (build as the ISLE OF INNISFREE in 1995) which is sailing in New Zeeland waters since 2005 will remain on charter to The Interislander until June 2020.

On the subject of the recent Brexit vote by the British people, ICG Chairman John B. McGuckian commented that "the uncertainty caused by the outcome of the UK Referendum on European Union membership had an initial negative impact on tourism bookings which have since recovered." He also noted that "the continuing Sterling weakness since the end of June has resulted in lower Euro equivalent tourism yields."

Full report here

© Shippax Sep 02 2016


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