Displaying items by tag: Revenue Rise

11th May 2022

Revenue Increases Sharply At Ferry Group ICG

ICG said revenue up to the end of April this year came in at €161.2 million - an increase of 80.5% on last year, but it was also up over 57% on 2019 levels.

Irish Ferries parent company the Irish Continental Group has reported an increase in revenue for the first four months of the year.

In a trading statement, the group provides comparisons to the same period last year as well as to the first four months of 2019, the year before the pandemic struck.

ICG said group revenue up to the end of April this year came in at €161.2 million - an increase of 80.5% on last year, but it was also up over 57% on 2019 levels.

Net debt increased by €30 million to stand at just over €174 million.

The increase in debt was accounted for by strategic capital expenditure mainly arising from the acquisition of two ferries for their new Dover-Calais service as Afloat reported, the Ciudad de Mahón from a Spanish operator and Calais Seaways from a Danish company.

RTE News has more from both the ferry and container/terminal divisions.

To consult ICG's Trading Statement, click here.

Published in Irish Ferries

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Improved Revenue Growth at Irish Continental Group

Maritime transport operator, Irish Continental Group has reported revenue 6% higher for the half year, following the introduction of the WB Yeats cruise ferry on schedule services with Irish Ferries in January.

Earnings per share, reports RTE News, however, were down 16% to 12.8 cent. ICG reported its interim dividend increased by 5% to 4.42 cent.

The company is concerned about the impact of Brexit but says it can pursue other opportunities, and remains confident for continued revenue growth.

ICG sold the Oscar Wilde ferry in April for €28.9 million, following the sale, a year earlier, of the Jonathan Swift for €15.5 million.

Fuel costs increased by €3.1 million to €25.5 million in the six month period.

Click here for more on this story.

Published in Ferry

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About the TP52 Racing Yacht

The TP52 racing yacht is a remarkable example of cutting-edge technology in the world of competitive yachting. Measuring 52 feet (15.85 metres) in length, this vessel is constructed entirely from carbon fibre, making it an incredibly light and agile craft.

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The spinnaker rigging set-up, measuring 15.00 m2, presents a challenge to even the most experienced crews, requiring them to be fit and perfectly coordinated. Maneuvering the boat requires athleticism due to the vessel's lack of inherent stability and the high speed generated by the fully battened mainsail and jib.

The TP52's hull is constructed of fibreglass-reinforced polyester in a foam sandwich layout, resulting in a weight of just 74kg. The fully battened mainsail and jib are made from a transparent Mylar laminate with orange or red Dacron trimming, while the spinnaker is manufactured from ripstop Nylon.

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