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Irish Continental hit by rising fuel costs

By BFN News | 08:21 AM | Thursday 08 March, 2012


Soaring fuel costs hit shipping group Irish Continental's results in the year to the end of December. Revenues rose 4.2% to �?¬273.3m but a 26% hike in its fuel costs resulted in earnings before interest, tax, depreciation and amortisation fall by 8.4% to �?¬49.1m. Operating profits were down 8.3% at �?¬28.9m. Chairman John B McGuckian said: "The current year will be challenging as fuel costs have further increased but with our disciplined approach to capacity I am confident of the group's prospects." At 8:21am: (LON:ICGC) Irish Continental Group share price was +0.1p at 15.5p Story provided by StockMarketWire.com

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