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Displaying items by tag: Revenue Rise

Irish Ferries parent company the Irish Continental Group has reported an increase in revenue for the first four months of the year.

In a trading statement, the group provides comparisons to the same period last year as well as to the first four months of 2019, the year before the pandemic struck.

ICG said group revenue up to the end of April this year came in at €161.2 million - an increase of 80.5% on last year, but it was also up over 57% on 2019 levels.

Net debt increased by €30 million to stand at just over €174 million.

The increase in debt was accounted for by strategic capital expenditure mainly arising from the acquisition of two ferries for their new Dover-Calais service as Afloat reported, the Ciudad de Mahón from a Spanish operator and Calais Seaways from a Danish company.

RTE News has more from both the ferry and container/terminal divisions.

To consult ICG's Trading Statement, click here.

Published in Irish Ferries

Maritime transport operator, Irish Continental Group has reported revenue 6% higher for the half year, following the introduction of the WB Yeats cruise ferry on schedule services with Irish Ferries in January.

Earnings per share, reports RTE News, however, were down 16% to 12.8 cent. ICG reported its interim dividend increased by 5% to 4.42 cent.

The company is concerned about the impact of Brexit but says it can pursue other opportunities, and remains confident for continued revenue growth.

ICG sold the Oscar Wilde ferry in April for €28.9 million, following the sale, a year earlier, of the Jonathan Swift for €15.5 million.

Fuel costs increased by €3.1 million to €25.5 million in the six month period.

Click here for more on this story. 

Published in Ferry
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The Round Britain & Ireland Race

The 2022 Sevenstar Round Britain and Ireland Race will feature a wide variety of yachts racing under the IRC rating rule as well as one design and open classes, such as IMOCA, Class40 and Multihulls. The majority of the fleet will race fully crewed, but with the popularity of the Two-Handed class in recent years, the race is expected to have a record entry.

The Sevenstar Round Britain and Ireland Race starts on Sunday 7th August 2022 from Cowes, Isle of Wight, UK.

The 2022 Sevenstar Round Britain and Ireland Race is organised by The Royal Ocean Racing Club in association with The Royal Yacht Squadron.

It is run every four years. There have been nine editions of the Round Britain and Ireland Race which started in 1976 Sevenstar has sponsored the race four times - 2006, 2010, 2014, 2018 and has committed to a longterm partnership with the RORC

The 2022 Sevenstar Round Britain and Ireland Race is a fully crewed non-stop race covering 1,805 nautical miles and is open to IRC, IRC Two Handed, IMOCA 60s, Class40s, Volvo 65s and Multihulls that will race around Britain and Ireland, starting from the Royal Yacht Squadron line in Cowes on the Isle of Wight starting after Cowes Week on Sunday 7 August 2022

The last edition of the race in 2018 attracted 28 teams with crews from 18 nations. Giles Redpath's British Lombard 46 saw over victory and Phil Sharp's Class40 Imerys Clean Energy established a new world record for 40ft and under, completing the course in 8 days 4 hrs 14 mins 49 secs.

The 1,805nm course will take competitors around some of the busiest and most tactically challenging sailing waters in the world. It attracts a diverse range of yachts and crew, most of which are enticed by the challenge it offers as well as the diversity and beauty of the route around Britain and Ireland with spectacular scenery and wildlife.

Most sailors agree that this race is one of the toughest tests as it is nearly as long as an Atlantic crossing, but the changes of direction at headlands will mean constant breaks in the watch system for sail changes and sail trim

Sevenstar Round Britain & Ireland Race Records:

  • Outright - OMA07 Musandam-Oman Sail, MOD 70, Sidney Gavignet, 2014: 3 days 03:32:36
  • Monohull - Azzam Abu Dhabi Ocean Racing, VO 65, Ian Walker, 2014: 4 days 13:10:28
  • Monohull All-Female - Team SCA, VO 65, Samantha Davies, 2014: 4 days 21:00:39
  • Monohull 60ft or less - Artemis Team Endeavour, IMOCA 60, Brian Thompson/Artemis Ocean Racing, 2014: 5 days 14:00:54
  • Monohull 40ft or less – Imerys Clean Energy, Class40, Phil Sharp, 2018: 8 days 4:14:49