Irish Continental Group (ICG) has issued its interim management statement which shows revenue is down and the group has seen a reduction in numbers for many of its services.

The statement covers carryings up to 12 May 2012 (i.e. 19 weeks) and financial information for the first four months of the year, i.e. January to April.

There was a reduction in the number of cars, Roll on Roll off freight, container freight and terminal lifts it carried. However, Irish Ferries carried 427,600 passengers - an increase of 1.4% on the previous year.

Irish Ferries carried 90,900 cars, a 4.1% reduction on the same period last year, but at higher yields.

In the Roll on Roll off freight market, it carried 67,200 units, a reduction of 3.7% compared with the same period in 2011.

Container freight volumes shipped decreased by 5.9% to 140,900 teu (twenty foot equivalent units) in the period to 12 May 2012 compared with the same period last year, while units handled at their terminals in Dublin and Belfast fell by 4.7% year on year, over the same period.

In the first four months of the year, Group revenue was €77m, slightly down compared with €78.1m in the same period last year.

The loss before interest was €2.4m (2011 loss €1.0m) while the loss before tax was €3.2m (2011 loss €1.2m). Earnings before interest tax and depreciation (EBITDA) were €3.8m compared with €5.8m in the same period in 2011. Net debt at the end of April was €6.6m compared with €7.8m at 31 December 2011.

Operating costs were higher mainly due to a rise in fuel costs.

In the statement it says, "it should be noted that ICG's business is significantly weighted towards the second half of the year when normally a higher proportion of the Group's operating profit is generated than in the first six months."