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Irish Continental revenues up

By BFN News | 08:39 AM | Tuesday 14 May, 2013


Irish Continental Group's revenues for the first four months of the year rose to �?¬72.1m 0 up from �?¬70.4m last time. Operating costs (before depreciation and amortisation) were 1.1% higher at �?¬67.3m. Non fuel costs were up 4.0% (�?¬2.0m) due to volume related port costs and additional variable costs in the container division, while fuel costs were down 8% (�?¬1.3m). Earnings before interest tax and depreciation (EBITDA) were �?¬4.8m compared with �?¬3.8m a year ago. Irish Ferries carried 418,100 passengers, a decrease of 1.5% on the previous year. The group also carried 85,000 cars, a 5.5% reduction on the same period last year, but at higher yields. The early Easter was a contributory factor in the reduction in passenger and car traffic. In the roll-on roll-off freight market, Irish Ferries carried 71,000 units, an increase of 6.4% compared with the same period in 2012. Container freight volumes shipped increased by 10% to 102,100 TEU (twenty foot equivalent units), while units handled at the group's terminals in Dublin and Belfast fell by 3.4% year on year. ICGC said its business is significantly weighted towards the second half of the year when normally a higher proportion of the group's operating profit is generated than in the first six months. At 8:39am: (LON:ICGC) Irish Continental Group share price was +0.06p at 20.92p Story provided by StockMarketWire.com

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