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Passenger traffic boosts Irish Continental

By BFN News | 03:29 PM | Friday 27 August, 2010


Increased passenger traffic helped boost Irish Continental's first half operating profits 23.9% to €8.8m. Revenues rose 2.2% to €122.4m and EBITDA increased 6.4% to €20.0m. Basic and adjusted earnings per share rose 66.3% and 53.8% to 33.1c and 34.3c respectively. Net debt fell 44.5% to €26.9m. Chairman John McGuckian said: "A strong performance on the passenger side of our business has more than offset continued difficult market conditions in the RoRo freight business. "EBITDA, operating profit, and EPS are all ahead of 2009 despite the continued difficult economic backdrop. "We remain cautious on the economic prospects for the second half of the year but confident that we are well placed to compete successfully in our market place." Story provided by StockMarketWire.com

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