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Irish Continental revenues up

By BFN News | 07:53 AM | Monday 17 November, 2014

Irish Continental Group's revenue rose by 10.3% to �?¬93.4m in the third quarter - the seasonally most significant quarter of the year. Earnings before interest, tax, depreciation and amortisation rose to �?¬28.1m, compared with �?¬26.9m in the corresponding quarter in 2013. Operating profit in the quarter was �?¬23.8 million versus �?¬22.3 million in the same period in 2013. The group says: "Summer trading has been encouraging across most business areas, with volume and revenue growth in the passenger, car and Roll on Roll Off (RoRo) segments, partially offset by weaker container freight volumes. Fuel costs in the quarter were �?¬14.3 million (2013: �?¬12.7 million) due to the additional sailings of the Epsilon, partially offset by lower fuel prices." Group revenue for the nine months to the end of September 2014 was �?¬224.1 million (2013: �?¬205.6 million), up 9.0%. Revenue in the Ferries division was up 13.0% compared with the comparable period in 2013, while in the Container & Terminal division cumulative revenue was up 2.5% year on year. EBITDA for the nine months was �?¬42.1 million (2013: �?¬42.7 million), reflecting the additional operational costs of the Epsilon which was introduced in late 2013. Operating profit for the nine months was �?¬29.0 million compared with �?¬28.7 million in the same period in 2013. Net debt at the end of September was �?¬57.6 million compared with �?¬71.9 million at 30 June 2014. Subsequent to the quarter end the interim dividend of �?¬6.4 million was paid. Story provided by

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