Freight volumes increase for Irish Ferries

Dublin Ferryport Terminal has reported an increase of seven per cent in freight volumes for 2005 and it is hoped that will rise further when the Port tunnel opens.

The net debt fell from E118 million to E106 million as the ferry company continues to generate cash, despite fears of a decline following the industrial dispute.
The car passenger market has seen a 4.5 per cent decline, while the Ireland – France route saw an increase in car and passenger carryings over the last year.

“Despite the challenges, the strong cash generation and prospect of earnings recovery in 2006/2007 leads us to maintain our accumulate stance,” said John Sheehan of NCB Stockbrokers about Irish Continental.