Irish Ferries owner Irish Continental Group has reported a dip in revenues but increased volumes of passengers and freight levels.
In a trading update, ICG said its consolidated group revenue fell by 1.8% to €491.4m in the year to November 18 compared to the same time last year.
The volume of cars it carried on its ferries rose by 12.2% to 588,700 from 524,700 the same time last year, while RoRo Freight volumes increased by 3.9% to 639,900 from 616,100.
ICG said it had been impacted by the weak deep-sea market in the first half of the year, which resulted in a material drop in volumes in its Container and Terminal Division.
It said this was as a result of continued weak export and import levels in China, the continued effect of over stocking following the Covid-19 pandemic and subsequent supply chain difficulties and the slowdown in world economic growth.
"Our flexible business model has allowed us to adjust our shipping capacity to match the current demand situation," it added.
