ICG loss increases

Ferry operator Irish Continental Group (ICG) has posted a higher deficit in the first four months of 2014.

The Dubin-based owner of Irish Ferries said the pre-tax loss was EUR 4.3m ($5.9m), from EUR 3.1m in 2013.

Total sailings were up by 17% as it brought in an extra chartered-in ship from Dublin to Cherbourg in France.

Revenue to the end of April rose 5.8% to EUR 76.7m, but operating costs were up 9% at EUR 73.8m due to the new ship.

In the 20 weeks up to 17 May 2014, Irish Ferries carried 95,000 cars, an increase of 5% on the previous year. Passenger numbers were stable at 441,000.

Ro-ro volumes reached 87,900 units, an increase of 18%.

Its feedership operations handled 1% more boxes at 107,800 teu.

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