Further job cuts seem likely at beleaguered P&O ferry business after the group chairman, Lord Sterling, announced a strategic review following the publication of an annual operating loss of £40m (€59m).

UK-based Ports and ferries group P&O said today its key Dover-Calais route had struggled to cash in on the peak tourist season.

The head of the Industrial Development Agency tonight insisted that Ireland would ‘‘break even’’ on the jobs front this year, despite a continuing rash of redundancy announcements.

The world’s largest car ferry is due to arrive in Dublin Port this afternoon.