Irish Ferries Owner Irish Continental Group Reports Higher Profits for 2023

7th March 2024

Oscar Wilde, on charter with Irish Ferries, started sailing last May, ‘initially’ on the Rosslare-Pembroke route. AFLOAT highlights that the cruise ferry, until last week, had to leave its Dublin-Holyhead/Cherbourg routes. This was due to the southern corridor route’s ropax ‘economy’ ferry, Norbay, on charter too, went for dry-docking, forcing a reintroduction of Oscar Wilde. It is speculated, ICG has a 'short-term’ charter of Timca, albeit a freight-only ferry, to replace Oscar Wilde and its double Dublin roles, given that sailings run to 18 March, supporting Wales serving Ulysses and to France with W.B. Yeats. On the next day, Oscar Wilde will be back in Dublin, as according to the sailing schedule, an ‘economy’ ferry, understood to be Norbay, returns to Rosslare. This would see Oscar Wilde resume Ireland/France routes in advance of summer, whereas fast ferry, Dublin Swift is to link Holyhead earlier in May. Credit: Rosslare Europort-twitter

The parent company of Irish Ferries, the Irish Continental Group, has today reported higher profits for 2023, but this was set back as its revenues dipped against background challenges of high inflation coupled with a slowdown in global trade.

According to the Dublin maritime transport group, its pre-tax profits for the year to the end of December had risen to €63.3 million from €62.5 million in 2022.

As for operating profits, they were driven from their ferry division, which saw a rise of 2.5% to €68.4 million from €66.7 million, which reflects a strong performance by Irish Ferries.

The ferry brand operates routes on the Irish Sea (Dublin-Holyhead/Rosslare-Pembroke), a direct service to France (Dublin-Cherbourg), and on the Strait of Dover, linking between the UK’s busiest ferryport and Calais.

Among the operator's fleet, is the chartered in Oscar Wilde which has since made its debut on routes to Wales and France, and has also returned to the Rosslare-Pembroke route from where it entered service last year. As in the above photo caption, Afloat.ie reports on the cruiseferry which is currently on relief duties for ropax Norbay while in dry dock.

Returning to ICG accounts, where revenues achieved for the year, however, eased by 2.2% to €572 million from €584.9 million.

For more RTE News reports on details of ICG’s financial accounts, which also include divisions involving container operations and related terminals based in Dublin and Belfast.

In addition the coverage refers to the Oscar Wilde, as alluded above and which in 2024 the cruiseferry will operate on the Dublin-Holyhead and Dublin-Cherbourg routes.

Published in Irish Ferries

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About The Author

Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals.

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