Profits at ferry group Irish Continental fell in the first half of this year to €1.9 million, compared to €3.3 million in the same period last year, according to figures released this morning.
The division comprises Irish Ferries, a provider of ferry services between Ireland and Britain and Continental Europe; Tara Travel, a travel services company specialising in travel to Ireland; and the chartering of multipurpose ferries to third parties.
Turnover in the division was hit by the translation of sterling and US dollar income into a strengthening euro and fell 12 per cent to €80.0 million (from €91.0 million in 2002).
Operating profit in the division was €3.6 million (€6.2 million in 2002).
In a statement issued this morning, the company said the early months of the year were characterised by world political uncertainty, which adversely affected consumers' inclination to travel, combined with the effects of a slowing world economy.
In Irish Ferries' core tourist business of car tourism, total cars carried were unchanged at 174,000. Total passenger numbers were affected by a decline in the foot passenger market, with an overall 5.1 per cent drop in passengers to 750,500.
Average passenger yields fell by 2 per cent to 40.49 per passenger.