Interim Management Statement
(Thomson Reuters ONE) - Irish Continental Group plc (ICG) issues its second InterimManagement Statement for 2009 which covers the period from 1 July2009.It should be noted that ICG's business is significantly weightedtowards the second half of the year (particularly the third quarter)where normally a higher proportion of the Group's operating profit isgenerated than in the first six months.TRADING, TO 30 SEPTEMBER 2009Group revenue for the nine months to 30th September 2009 was ?197.8million (2008: ?265.5 million). EBITDA for the nine months was ?41.7million (2008: ?55.9 million), while operating profit for the ninemonths was ?24.1 million compared with ?37.5 million in the sameperiod in 2008. As at 30 June 2009, we had reported operating profitfor the six months of ?7.1 million versus ?17.3 million in the sameperiod in 2008. The comparative results in 2008 include ?3.8 millionprofit in respect of the sale of the MV Normandy.FINANCENet debt at 30 September 2009, was ?30.0 million, down from ?48.5million at 30 June 2009. This is the lowest level of net debt since1993, reflecting the Group's very strong cash flow characteristics.CURRENT TRADING & OUTLOOKIn the period from 1 July 2009 to 31 October 2009, passenger numbersare up 1% at 643,000, cars carried are up 2% at 171,000, RoRo freightvolumes are down 16% at 66,000 units. Container freight volumes forthe same period are down 19% at 143,000 teu, while units lifted atour ports are down 18% at 59,000.In the year to date (to 31 October 2009), passengers carried are down4% at 1,264,000, while car numbers are down 2% at 330,000. RoRofreight volumes in the same period are down 20% on last year at165,000 units partly reflecting additional competitive freightcapacity. Container freight volumes are 27% lower than the previousyear at 330,000 teu, while units handled at our port terminals aredown by 25% at 137,000.The economic environment remains challenging and the weakness ofsterling against the euro remains an issue for the Group. Freightvolumes continue to reflect subdued trading activity while passengerand car volumes have remained more resilient and have respondedfavourably to our marketing initiatives.10th November 2009---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 10.11.2009 - 08:01 Uhr
Sprache: Deutsch
News-ID 8143
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