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Irish Continental operating profits down 21.5%

By BFN News | 09:33 AM | Thursday 30 August, 2012


Ferry company Irish Continental's operating profits fell by 21.5% to �?¬5.1m in the six months to the end of June. But the group says revenues in the seasonally less profitable first half were up 0.4% at �?¬127.1m and the dividend is maintained at 33.0c. Earnings before interest, tax, depreciation and amortisation fell by 11.2% to �?¬14.3m and basic earnings per share dropped by 40.6% to 14.5c. Chairman John McGuckian said:"I am pleased to report a robust performance in the first six months of the financial year. "Turnover grew, albeit moderately while EBITDA was �?¬14.3m in the first six months of the year, down only �?¬1.8m despite an increase of �?¬4.5m in our fuel bill in the period. "With regard to current trading, while freight remains weak due to the economic background our tourism and car business has benefited from reduced competitor capacity although fuel costs remain a headwind." At 9:33am: (LON:ICGC) Irish Continental Group share price was +2.25p at 17.8p Story provided by StockMarketWire.com

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