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LONDON (Alliance News) - Irish ferry operator Irish Continental Group PLC on Thursday said its revenue and operating profit grew in the third quarter thanks to higher volumes across its operations.
Irish Continental said its revenue for the third quarter to the end of September rose to EUR105.5 million from EUR95.6 million a year earlier. For the nine months to the end of September, revenue increased to EUR248.6 million from EUR226.3 million.
Operating profit for the third quarter rose to EUR34.2 million, a sharp increase on the EUR24.0 million a year earlier, leaving its operating profit for the first nine months up to EUR50.6 million, from EUR29.2 million.
Irish Continental said trading was strong in the quarter, with volume and revenue growth in its Ferries and Container & Terminal divisions. Fuel costs also fell in the quarter due to lower commodity prices, though which was partially offset by a stronger dollar and changes to marine environmental regulations.
Shares in Irish Continental were untraded on Thursday morning, having last traded at EUR5.05.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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