Irish Ferries parent owner, Irish Continental Group (ICG), grew its operating profit marginally last year despite the closure of the Port of Holyhead.
The Dublin-listed ICG has said it is beginning to see the return of a more normalised market on the central Irish Sea following the North Wales ferry ports (partial) reopening in January.
Today, ICG informed investors of its preliminary Statement of Results, which stated that it generated an operating profit of €69.1 million in the 12 months to the end of December. This represents an increase of 1 percent from €68.4 million when compared to 2023.
The maritime transport group, based on Alexandra Road, Dublin Port, made a profit before tax of €62.2 million, which was down marginally from €63.3 million the year before.
Another key indicator of ICG’s performance is through its earnings before interest, taxes, depreciation, and amortization (EBITDA)—which, to €133.5 million, is up marginally from €132.6 million. While revenue was up by 5 per cent, from €572 million to €603.8 million.
Commenting on the preliminary results, ICG said, is a robust result against the disruption in Holyhead and a challenging yield environment in the container market”
The Irish Times has further coverage on results from the ferry division and more.
