Displaying items by tag: Irish Sea ferry business

8th March 2012

Rising Costs Scuttle ICG's Ferry Profits

#FERRY NEWS – The Irish Continental Group (ICG) operators of ferry division Irish Ferries, said today its pre-tax profit for last year fell by 30 per cent to €28.2 million on the back of higher fuel costs, reports The Irish Times.

Despite the tough trading conditions, the group said it revenue for 2011 rose by 4.2 per cent to €273.3 million. Irish Ferries saw its passenger numbers for the year fall marginally by 0.7 per cent to 1,527 million, while its roll-on roll-off freight rose up by 9 per cent.

The company said the extremely challenging economic circumstances in the Republic contributed to the lack of growth in the market, and the pressure on operating costs for our freight customers remained intense.

Chairman John B McGuckian predicted the current year would remain challenging as fuel costs have further increased but with the group's "disciplined approach to capacity" he said he was confident of its prospects.

In the year to date, the ferry operator has carried 31,100 cars, down 8.5 per cent on 2011 and 138,600 passengers, up 0.8 per cent on 2011.

The reduction in car carryings partially reflects an 11 per cent reduction in sailings in the year to date but also a quieter than expected start to the year, it said.

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About the Watersports Inclusion Games

The Watersports Inclusion Games are an award-winning event organised by Irish Sailing with partners from across the watersports sector, that enable people of all abilities from the physical, sensory, intellectual and learning spectrums to take to the water to participate in a wide range of water activities.

More than 250 people with physical, sensory, intellectual and learning disabilities typically take part in the weekend's events.

Participants will have the opportunity to try more sports than ever before, with an expanded range including sailing, kayaking, canoeing, paddle-boarding, rowing, surfing, water skiing and powerboating all on offer.

The Games typically take place each August.

The organisers of the Games want to let people of all abilities know that there are multiple watersports available to them, and to encourage more people from all backgrounds to get involved and out on the water regardless of ability. They aim to highlight that any barriers faced by people with disabilities can be eliminated.

There are social, health and wellness benefits associated with sailing and all watersports. These include improved muscle strength and endurance, improved cardiovascular fitness and increased agility, enhanced spatial awareness, greater mental wellness through the balancing of serotonin levels and the lowering of stress levels, improved concentration and the forging of positive relationships.