Ferries group Irish Continental has told shareholders that revenue has continued to fall since its last update in May, but this has been partly offset by lower costs.
In May, ICG had said that revenue in the first four months of the year was down 25% on the same period in 2008, partly offset by a 24% reduction in operating costs. This morning, it said these trends had continued.
ICG also told the AGM it had carried 145,500 cars in the 25 weeks to June 20, down 6.6% on the same period last year. Passenger numbers were down 9.7% to 571,000.
Roll-on roll-off freight volumes are down 23%, while container volumes in Belfast and Dublin are down 29% and 27% respectively. These falls are in line with its previous update.
