Irish-Ferries owner ICG criticises Government over Covid rules for travellers from Britain 

Revenues are down almost €131m in the six months to the end of June, but ICG has reduced net debt to €103.3m.
Irish-Ferries owner ICG criticises Government over Covid rules for travellers from Britain 
Revenue for for ICG is down 21.6% in the six months leading to the end of June. 

Irish-Ferries owner ICG has criticised the Government over the health restrictions for travellers from Britain to self-isolate but said its strong finances will help it weather the Covid-19 storm. 

In a trading update, the ferries, containers, and terminal operator, said revenues of almost €131m in the six months to the end of June were down 21.6% from the same period last year, but it had reduced net debt to €103.3m.

For the year to July 25, it carried 67% fewer cars and 10.5% less freight although roll-on-roll-off freight was much less affected.  

It said it had done all in its power to maintain shipping schedules to maintain essential supply chains and to provide a lifeline for emergency travel during the lockdown.  

"We have raised our concerns with the Irish Goveovenmet on the current policy of asking people from Britain who visit Ireland to self-isolate for two weeks while allowing unrestricted transit via Northern Ireland," the company said. 

ICG shares clawed back some recent losses by rising 3% in Dublin trade. They have fallen 22% in the past year. 

Greencore have reported an increase in shares after selling Irish molasses distribution business 

Meanwhile, the London-listed shares in sandwich and convenience foods firm Greencore rose 5.5% as it said it sold off its Irish molasses distribution business for £15.6m to United Molasses.   

In a trading update, Greencore said group revenues were down 23% in July, with the pandemic having had "a dramatic and volatile impact on UK food consumption patterns". 

But production had restarted in facilities in London and output increased at Northampton "as demand trends improve". 

"In addition, we are well-positioned for new business opportunities and a return to growth as the pandemic subsides," said chief executive Patrick Coveney.    

                                      


              

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