Ferry Operator Reports Fair Wind

Shares in Irish Ferries owner Irish Continental Group sailed over 6% higher Dublin trade as it posted a return to profit last year with its annual revenues jumping 75%.

Irish Continental Group reported a profit of €66.7m for the year to the end of December compared to a loss of €200,000 in 2021.

ICG's revenues jumped by 75% to €585m from €334.5m, and its basic earnings per share for the year amounted to 33.6 cent.

It said the numbers of cars it carried during the year soared by 181.6% to 573,400 cars from 203,600 cars in 2021 as a result of the lifting of Covid-19 travel restrictions and the expansion to a three-ship service on the Dover-Calais route.

Passenger numbers increased by 246.7% to reach 2,315,000 last year from 667,800 in 2021.