Irish Continental Group PLC on Thursday reported a sharp swing to a profit in 2022 amid a surge in annual revenue.
The Dublin-based maritime transport firm turned to a pretax profit of €62.5 million from a loss of €4.1 million the year prior.
Revenue jumped 75% to €584.9 million from €334.5 million.
The firm declared a final dividend of 9.45 euro cents, up from 9.00 cents a year ago.
The company noted a particular strength in its Ferries division, which saw increased revenue from the easing of travel restrictions and the expansion of the Dover-Calais service.
Chair John McGuckian said: ‘2022 has been a year not just of recovery but of building for long-term growth. With the Covid-19 pandemic now behind us, we have turned our full attention to maximising the opportunities that have arisen for the group over the last two years. We come out of the pandemic with operations larger than we had at its commencement, and with a balance sheet that remains strong.’
Looking ahead, Irish Continental expects continued growth during 2023 via leveraging its investments.
Irish Continental shares rose 9.5% to 420.50 pence each on Thursday afternoon in London.
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