Irish Continental Group (ICG) saw first half profits rise to €166 million despite a rise in fuel costs.
This compares with profits of €163.2 million for the same period in 2007.
Pre-tax profits totalled €17.5 million versus a loss of €1 million. Revenue rose 1.8 per cent to 166.1 million.
The ferry operator said this morning that net income for the first six months of the fiscal year were €16.5 million or 67.1 cents a basic share, compared with a loss of €1.6 million, or 6.8 cents, a year earlier.
The group said that it is facing rising costs this year due to soaring oil prices and warned that it is "inevitable that" prices for both passenger travel and freight will rise.
ICG also said that Irish Ferries will be actively reviewing the schedule of the Jonathan Swift fast ferry with a view to reducing frequency in the less busy winter season and thereby conserving fuel.
Passenger numbers for the group fell by 1.2 per cent during the six month period to 681,000, while car numbers declined 2.3 per cent.
Roll-on roll-off freight volumes fell 3 per cent.
