Strike takes toll on ICG’s sales and profits

IRISH FERRIES operator Irish Continental Group yesterday reported a fall in sales and profits.

Turnover at ICG fell to €293.3m in 2004, from €304.3m after a 10-day strike in December hit sales and operating margins.

Operating profit before tax was down by 8% to €26.5 million (2003 €28.9 million). Strong cash flow helped reduce net debt to €117.9m at the end of 2004, from €125m a year earlier.