Irish Continental Group has said that its group revenues so far this year are up 1.6% to €280.2m.

In a trading update, ICG said that while the euro value of its sterling originating revenues have been affected by a weaker sterling, this has been partly offset by improvements in sterling based costs. 

It added that fuel costs continued to benefit from lower global fuel prices compared to the previous year.

The Irish Ferries owner said that its net debt at the end of October was €25.6m compared with a figure of €44.3m at end of December last year. 

For the year to 5 November, Irish Ferries carried 372,500 cars, an increase of 3% on the previous year. 

ICG noted that in the period since 30 June car carryings increased by 1% compared with the same period last year, with the lower rate of growth reflecting event driven traffic flows in the previous year, including the Rugby World Cup.

Freight carryings for the year to 5 November were 241,200 RoRo units, up 5% compared with 2015.

The company said that the construction of a new cruise ferry announced in May remains on schedule for delivery in May 2018.