Irish Continental Group (ICG), the parent company of Irish Ferries, has reported a strong financial performance for the first half of 2025, with profits and revenues climbing despite challenges in passenger volumes and operational disruptions.
For the six months to the end of June, pre-tax profits rose by 40.4% to €20.5 million, compared with €14.6 million a year earlier. Group revenues also increased by 8.5%, reaching €309.9 million from €285.5 million in the same period of 2024. The company announced an interim dividend of 5.37 cent, up 5.1% on last year’s payout.
The group said it carried 264,900 cars in the first half, down 4.4% on the previous year, largely due to fewer sailings on the Dover–Calais route and lengthy closures at Holyhead port in Wales after storm damage. Passenger carryings also declined by 3.5% to 1.28 million, but passenger revenues still grew by 8.6% compared with last year, reflecting higher yields and increased onboard spending.
Freight volumes showed resilience, rising 2.2% to 393,300 units, with freight revenues up 1.4%. In addition, ICG’s Container and Terminal Division reported a 24.7% rise in containers shipped and a 10% increase in port lifts, signalling steady growth in its logistics operations.
The group also expanded its fleet. In April, it purchased the James Joyce ferry, previously on charter from Tallink, which entered service on the Dublin–Holyhead route in May. The vessel, the largest and fastest passenger cruise ferry on the Irish Sea, can carry more than 2,000 passengers and boasts over 17,000 square feet of retail space. Its introduction allowed the Isle of Inisheer to be redeployed on the Dublin–Cherbourg route, enabling daily sailings to and from France when combined with the WB Yeats.
ICG also acquired the CT Endeavor, built in 2005, which has been placed into service with its Eucon subsidiary. Meanwhile, the group highlighted progress on sustainability, with the Dublin Swift and Isle of Inisheer ferries now operating on Hydrotreated Vegetable Oil (HVO), a biofuel that can cut emissions by up to 80%.
Chairman John B. McGuckian described the first half of the year as “a successful period” despite the disruption caused by Holyhead port’s closure late in 2024. He warned, however, that full repairs at the port would require further operational restrictions later this year and into early 2026.
McGuckian also pointed to the group’s growing presence on the Dover–Calais route, benefiting from a space-sharing agreement with P&O Ferries and the introduction of the Oscar Wilde in 2024, which has boosted freight capacity. He added that the acquisitions of the James Joyce and Oscar Wilde mark a significant milestone, giving Irish Ferries full ownership of its passenger fleet and ending its reliance on chartered vessels.
