Feederlink News

In a comment John B. McGuckian Chairman stated, ‘‘This was a positive half years trading with increases in revenue and operating profit driven mainly by higher freight carryings and lower fuel costs, partially offset by weaker passenger markets. In the prior year the group disposed of its subsidiary Feederlink and the comparatives set out in the Interim Management Report have been restated to exclude trading from discontinued operations. The Board of Irish Continental Group plc (ICG) reports that, in the seasonally less profitable first half of the year, the group recorded revenue of €120.9 million compared with €117.0 million in the same period in 2012, an increase of 3.3%.

Irish Continental Group (ICG) produced another resilient performance in the face of continued economic weakness, which affects both consumer travel and import/export trade flows, the two areas of economic interest for the Group. During the year, the Group announced and completed the sale of its subsidiary Feederlink. Revenue for the year from continuing operations was up 1.7% at €256.1 million while continuing EBITDA  was down 3.2%, to €45.8 million, due mainly to lower freight volumes in both RORO and LOLO and higher fuel costs (up €6.3 million to €53.2 million) largely offset by higher yields in the passenger business. The net interest…

Scottish cargo customers are benefiting from the launch of a new domestic service, linking the Port of Grangemouth to strategic east coast English ports. Forth Ports has recently teamed up with Feederlink to provide a service from Grangemouth – the UK’s largest feeder port – to Southampton, offering an opportunity for Scottish customers with export, import and domestic cargo needs. The new route meets the demands of a range of industry sectors – in particular retail and supermarket trade – and port centred logistics. The new service builds on the Port of Grangemouths’s reputation as one of Europe’s premier feeder ports, and reinforces Forth Ports’ recent capital investment in the Port.