ICG grows profit 22% to €40.7m

FERRY operator Irish Continental Group saw profits rise by 22% last year to €40.7 million.

Turnover in 2007 rose 14% to €355.8m, though growth was slower in the second half of the year due to higher oil prices and weaker economic sentiment.

The company, which was the subject of a bidding war between its management and Philip Lynch’s One51, said its passenger ferry and port container operations recorded growth in 2007.