No share bounce for Irish Continental Group despite upbeat outlook

Shares in Irish Continental Group (ICG), the owner of Irish Ferries, fell by over 2% yesterday, despite it reporting strong first-half figures and saying bookings have recovered since an initial Brexit hit.

The ferry and freight services business reported a 5.2% year-on-year increase in first-half revenues to €150.5m, adding that earnings were up by nearly 20% at €30.5m and basic earnings per share were ahead of the same period last year by over 32% at 10.3c.

Irish Ferries carried 170,500 cars during the first six months of the year — 5.5% up on the corresponding period last year. Roll-on/Roll-off (RoRo) freight volumes were 5.6% ahead, year-on-year, and container volumes grew by 7.4%.