Irish Continental Group profit in H1 rises despite port disruption

Irish Continental Group (ICG) has reported a solid increase in revenue and profitability for the first half of 2025, with the performance driven by a strong recovery in its freight business and a significant jump in container volumes.

The Irish maritime transport group achieved the improved results despite a difficult start to the year, which saw its volumes impacted by the closure of Holyhead Port.

For the six months ending June 30, the group posted revenues of €309.9 million ($335 million), an 8.5 per cent increase from the €285.5 million recorded in the first half of 2024. This top-line growth helped lift operating profit by 41.4 per cent to €24.6 million, up from €17.4 million in the prior-year period.

The company's outgoings were not detailed in the announcement, but the improved profitability came alongside a mixed performance in its key operational metrics. While Ro-Ro freight volumes grew by 2.2 per cent, car volumes fell by 4.4 per cent, a decline the company attributed to the Holyhead disruption and a reduction in sailings on the Dover-Calais route. The container and terminal division was a standout performer, with containers shipped surging by 24.7 per cent.

Chairman John B. McGuckian commented, “Despite a difficult start, HY 2025 has been a successful period for the Group.” He noted that following the partial reopening of Holyhead Port, the company has seen a return to more normalised volumes.

During the period, ICG stated that it continued its strategic fleet development, completing the purchase of the ferry James Joyce. This follows the acquisition of the Oscar Wilde in 2024, moves which the company said eliminate the necessity for chartering in passenger ships. The board declared an interim dividend of 5.37 cents per share.