Irish maritime transport group Irish Continental Group Plc. (ICG.L) reported lower profit in fiscal 2024, impacted by the disruption at the Holyhead Port in December 2024. Revenues, however, climbed 5.6 percent, helped by a strong performance of the Ferry Division. The company also hiked its final dividend for the year.
The company posted pre-tax profit of 62.2 million euros, down from 63.3 million euros a year ago.
Annual profit declined to 59.9 million euros or 35.6 cents per share from 61.6 million euros or 35.7 cents per share last year.
In fiscal 2024, the company's revenues climbed to 603.8 million euros from 572.0 million euros in the prior-year. EBITDA for the year rose to 133.5 million euros from 132.6 million euros last year, helped by a strong performance in the Ferries Division.
Commenting on the results, Chairman John B. McGuckian said, "Our RoRo freight volumes and car volumes reached record highs as did key financial metric of EBITDA. The closure of Holyhead Port in December 2024 through to mid-January 2025 had a serious impact on our customers."
The company's Directors have recommended a final dividend for fiscal 2024 of 10.43 cent per share subject to shareholder approval at the AGM on May 8, which will be paid on June 6 to shareholders on the register at close of business on May 16. This is 5 percent higher than last year's final dividend of 9.93 cents per share.
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