2003 'challenging year' for Irish Continental

Ferry group Irish Continental has reported turnover up 4% to €304.3m for the year ending December 2003. Pre-tax profits for what the company called 'a challenging year' declined 13% to €22.5m, excluding an exceptional charge of €4.8m for restructuring.

Operating profit before depreciation, amortization and exceptional items for the year was €53.4m, down from €63.2m in 2002. Operating profit before exceptional items for the year was €28.9m, against €34.8m the previous year.