Multimodal 2019

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Revenues sail past £1bn at P&O Ferries

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Revenues have risen past the £1bn milestone at P&O Ferries, driven by growth from the group's freight and Ferrymasters businesses.

Accounts for P&O Ferries Division Holdings Ltd reveal that revenue at the business rose from £973.9m to £1.04bn in the year to 31 December 2017.

Pre-tax profit for the period dipped from £47.8m to £40.6m.

P&O Ferries operates services across the English Channel, North Sea and Irish Sea, with a fleet of more than 20 ships.

In addition to sailing on eight major routes between Britain, France, Northern Ireland, the Republic of Ireland, Holland and Belgium, the business operates multimodal hubs at Zeebrugge and Europoort and have its own logistics arm, P&O Ferrymasters.

The rise in revenue during 2017 was said to be driven by growth from the group's freight and Ferrymasters divisions.

A new LOLO container service was launched by the group's North Sea operation, with a third vessel on the Hull Zeebrugge route allowing the two Ropax vessels on that route to concentrate more on higher value self-drive vehicles.

Competition remained strong in the Irish Sea, but P&O expects freight market growth on both the Northern Corridor and Central routes.

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Tues 18th June 2019 10:00 - 17:00

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Wed 19th June 2019 10:00 - 19:00

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Thurs 20th June 2019 10:00 - 15:00

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