The Irish Continental Group (ICG), the parent company of Irish Ferries, has reported revenues of €177 million for the first quarter of this year; this reflects an increase of 8.3% when compared with the same time last year.

In a trading update for the Dublin-headquartered ICG for the four months to the end of April, the maritime transport operator said that total revenues at its division, Irish Ferries, had rose by 12% to €119.7 million from €106.9m million at the same time last year.

In the period for the year, up to 4 May, Irish Ferries, which operates on routes to the UK and France and UK-France, said it carried a total of 153,200 cars, an increase of 21.2% on the 126,400 cars carried during the same time last year.

As for freight volumes, they rose by 16.5% to 262,500 roll-on/roll-off (RoRo) units from 225,400 units for the year 2023.

For more on ICG’s trading update on Thursday, RTE News reports, which include load-on/load-off (LoLo) figures for revenues at ICG's Container and Terminal Divisions, DFT and BFT.

The Irish Continental Group (ICG) has said it is totally prepared to meet the challenges posed by Brexit, whatever way those challenges emerge.

At the group’s annual general meeting, John McGuckian, ICG chairman, said, “we’re confident that whatever happens, we will react in an efficient and profitable way”.

Speaking to The Irish Times after the meeting, ICG chief executive Eamonn Rothwell said he’d prefer if sterling wasn’t so weak but he didn’t show concern on the basis that he doesn’t “know what Brexit is yet”. Mr Rothwell added that he doesn’t expect the group to suffer as 40 per cent of travellers on the Irish Sea are travellers originating in Ireland, while the remainder are British.

At the group agm there was no opposition to any of the resolutions, with remuneration practices in the company supported by over 90 per cent of shareholders. The shareholders dividend of 7.76 cent per share was also approved at the meeting. That dividend will be paid in June.

For more including the sale in 2017 of the former Isle of Innisfree (Kaitaki) to a New Zealand operator and results on ICG's ro-ro operations click here.