5th Mar 2015 09:56
LONDON (Alliance News) - Irish Continental Group PLC Thursday posted higher pretax profit for 2014 on stronger revenue as it produced a robust performance across its operations.
The shipping and transport company said its pretax profit rose to EUR56.7 million from EUR23.7 million last year. Revenue increased to EUR290.1 million from EUR264.7 million as the company reported a good rise in passengers and cars carried, a boom in roll-on roll-off freight and only a small decline in container freight volumes.
Irish Continental said it carried 1.64 million passengers, up 4.8% on the 1.57 million it carried in 2013. It carried 381,800 cars against 350,900 a year earlier.
Roll-on roll-off freight was the star performer, with 247,900 units carried in the year, up 21% against the 205,800 carried a year earlier. Container freight volume declined 0.7% to 277,200 twenty foot equivalent units from 279,200. Port lifts volume also rose, up 5.5% to 187,000 units from 177,300 units.
The company has proposed a final dividend of 7.035 cents, making a total dividend for the year of 10.5 cents, up 5% year-on-year.
John McGuckian, Chairman of Irish Continental, said the group's robust fourth quarter performance positions its well for further year of growth in 2015 and said the good performance seen in 2014 has carried into this year.
Irish Continental shares were up 6.4% to EUR3.80 on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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