Irish Continental performance 'ahead of expectations'

Shipping group Irish Continental has said its volumes of car traffic were better than expected this year.

At the time of the company's interim statement, car volumes were down 12% compared with 2005 and expectation for the full year was a decline of about 7%.

Based on the experience in October and November however, Irish Continental said it now expected a smaller full-year decline of approximately 5%.

In the roll-on-roll-off freight market, the company's volumes were up 3% year to date in September and their expectation was for a full year increase of between 9% and 10%. Based on volumes achieved in October and November, Irish Continental expects an increase of around 11% for the full year.

"In the light of the above we would, in the absence of unforeseen circumstances, expect the underlying full year profit before tax, before separately disclosable and non- recurring items, to be ahead of current market expectations," the company said in a statement today.