ICG eyes further growth despite sterling weakness following Brexit

Irish Continental Group (ICG) which is the parent company of Irish Ferries, has said it is confident that 2017 will be another year of growth, despite the twin threats of Brexit and rising fuel prices.

The group yesterday reported a near 12% rise in pre-tax profits, for 2016, to €60.4m and a 1.5% rise in yearly revenue to €325.4m.

Earnings per share rose almost 9% to 31.4c, net debt fell over 14% to €37.9m and a 5% increase in final dividend took the dividend for the full year to 11.58c per share. A 10.6% rise brought earnings, on an earnings before interest, tax, depreciation, and amortisation basis, to a record high of €83.5m.