ICG revenues decline over fuel costs

Ferry and freight services group Irish Continental saw passengers rise and its debt levels drop in the first four and a half months of this year; but losses rose and total revenues dropped slightly due to significant increases in fuel costs.

Dublin-headquartered ICG — which owns Irish Ferries, and the Eucon and Feederlink freight businesses — yesterday said that group revenue amounted to €77m for the 19-week period up to May 12.

This was down marginally from the €78.1m generated in the same period last year, due to a 22% increase in fuel costs to €18.7m.