Pre tax profits of 19m euros at Irish Continental
The ferry company Irish Continental Group has reported profits of 19 million euros for the year ended October 2000.
The announcement comes despite a warning that company would have a difficult year because of the price of fuel.
In the event, the figure is a smaller-than-expected drop on 1999's pre-tax profit of 24.2 million euros.
During the year, the company invested 49 million in vessels and other infrastructure.
This includes the world’s largest car ferry Ulysses. Construction of the vessel is now almost complete and it is due for delivery next month.
The ferry firm also plans to target the internet market with the establishment of a travel site on the web
Despite the abolition of duty free during the period Irish Continental says it recorded overall growth of 6.7% with a total of 1.8 million passengers.
The largest growth was recorded on the Irish Sea route out of Dublin, which grew by 14%. Turnover in the container division increased by 24%.
