Irish Ferries owner Irish Continental Group said revenue rose 10.4 per cent in the three months to the end of September, which is the busiest quarter of the year for the company.
The group said revenues rose to €105.5 million in the quarter from €95.6 million a year earlier while earnings before interest, taxes, depreciation and amortisation (ebitda) increased from €28.4 million to €38.6 million.
Operating profit in the quarter was €34.2 million as against €24 million in the same period in 2014.
Irish Continental said summer trading was strong with volume and revenue growth across both its ferries and container and terminal divisions.
The company said for the nine months to the end of September group revenue was up 9.9 per cent to €248.6 million, versus €226.3 million for the same period in 2014. Revenue in the ferries division was up 10.8 per cent while container and terminal division volumes rose by 8.3 per cent. Ebitda for the nine months was €64.1 million as against €42.4 million last year while operating profit totalled €50.6 million versus €29.2 million for the same nine month period last year.
Irish Continental said passenger numbers were up 3 per cent from July to early November with the number of vehicles carried up 5 per cent. In the roll-on, roll-off (RoRO) freight market, Irish Ferries volumes increased 8 per cent while container freight volumes rose 7 per cent.
In the year to November 7th, total passenger numbers rose 3 per cent to 1.53 million while cars transported increased by 5 per cent. RoRO freight volumes were up 10 per cent on last year at 231,500 with container freight volumes jumping by 3 per cent.
Group fuel costs in the quarter were €10.3 million, compared to €14.8 million a year earlier reflecting lower commodity prices that were partially offset by a stronger dollar and the amendment of marine environmental regulations requiring Irish Continental to consume more expensive fuel grades.
Net debt at the end of September was €20.4 million compared with €33.7 million at June 30th. Subsequent to the quarter end the interim dividend of €6.8 million was paid.
