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Displaying items by tag: Revenue Rise

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

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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Tricentenary 'Cork 300' Celebrations at Royal Cork Yacht Club

Cork 300 is the overall name for a series of events which will be held in Cork Harbour and further afield in 2020 to celebrate the tricentenary of Royal Cork Yacht Club.

300 years earlier, 25 individuals came together and created what is now the oldest yacht club in the world (where it all began). Today, there are thousands of yacht clubs across the globe with a collective membership running into the millions.

Cork, its harbour and its communities will proudly celebrate all that is on offer to visitors to Irelands Maritime Paradise with a series of events throughout the year. Register your interest here.

The lead events will be as follows:

July – The Great Gathering (Keelboats)
August – The Three Championship Weeks (Dinghies)
August – The Club At Home Regatta (Keelboats & Dinghies)

Events include…

AIB 1720 Southern Championships 28th-30th August
Sadly, the 1720 Europeans scheduled to take place as part of Volvo Cork Week fell victim to the covid 19 pandemic. The Royal Cork Yacht Club is instead hosting the AIB 1720 Southern Championships 2020 as part of their Tricentenary At Home Regatta weekend. The 1720 class originated from an idea generated by some committed racing members of the Royal Cork Yacht Club with the first prototype taking to the water in 1994. Designed by Tony Castro, they have been delighting many a competitive sailor since.

Tricentenary at Home Regatta, 28th - 30th August:
The AIB Tricentenary at Home Regatta will be the biggest sailing event of the year in the Royal Cork calendar. Racing will be available for all classes both dinghy and keelboat with many visitors expected from up and down the Irish South Coast. The National 18 Southern Championships will also feature as part of the racing over the weekend.

Maritime Parade 29th August
A maritime parade, originally scheduled for July, will now take place during the Tricentenary Regatta on the 29th August, with the support of the Irish Naval Services and Port of Cork. The Admiral of the Royal Cork and other dignitaries will review the parade from one of the Irish Naval Service vessels which will be anchored in the vicinity of Haulbowline.

1720s Race from Haulbowline to Crosshaven, 29th August
Following the Maritime Parade, a race will take place between all of the 1720s boats from the Naval Signal Tower back to the Royal Cork Yacht Club in Crosshaven. The National 18 Class will also be participating.

RCYC Exhibition at the Sirius, 29th August to 19th December
A RCYC Exhibition will be launched at the Sirius Arts Centre in Cobh on August 29th following the day's events. The Sirius was the Royal Cork Club House from 1854 to 1966, and the Exhibition will take a look at what life was like at the yacht club during its time there.

Fastnet Challenge, 29th August
The Fastnet Powerboat Challenge originally scheduled for the last week of July has now been moved to the last weekend of August (Weather permitting). This will see the UIM Long Distance Cork-Fastnet-Cork World Record attempt competed for.

Cork300 Family Race to the City, 12-13 September
In conjunction with Cove Sailing Club's annual Cobh to Blackrock race, Yachts and craft from across Cork Harbour will take part in a race to Blackrock Castle, following on from which, they will continue to the city Quays where they will remain overnight and provide a spectacle of sail within the City environs.

AIB National 18 Championships, 12-13 September
The AIB National 18 Championships for adult sailors in the UK and Ireland will take place from 12-13 September in Crosshaven this year as part of the Cork300 celebrations.

AIB Cork300 Autumn League, 27 September-25 October
The premier yacht racing event on the South Coast this year, the AIB Cork300 Autumn League, will be held over 5 weekends leading up to the October Bank Holiday weekend. This is expected to be the largest yacht racing event on the South Coast of Ireland this year.

AIB Irish Team Racing National Championships 2020, 21-22 November
Sailing teams from across the country will compete in Cork Harbour for the title of AIB Irish Team Racing National Champion 2020

All races will be governed by the COVID-19 guidelines as laid out by Irish Sailing and organising clubs.

At A Glance – Royal Cork Tricentenary

Founded in 1720, by a group of 25 pioneering individuals, the Royal Cork Yacht Club is the oldest yacht club in the world, and its tricentenary celebrations will take a look back at the origins of ‘where it all began’, which is attracting significant international interest from thousands of yacht clubs across the globe

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