Brexit uncertainty affecting the timing of investment decisions – Irish Ferries Operator

The current uncertainty surrounding Brexit is "inevitably critical to the choice of investments," said the operator of the Irish Ferries, ICG.

The group added that the lack of clarity around the EU's exit from the UK "could have a negative impact on consumer sentiment".

In an update of the negotiations covering today the first 10 months of 2018, ICG recorded a turnover of 285.3 million euros for the period, down 1.3 % compared to last year.

The decrease in sales is attributable to disruptions in shipping and schedule changes, partially offset by growth in the container and terminal division's revenue.

So far this year, car traffic is down from 7.2 pc to 365,400.

Container freight (equivalent twenty feet) increased by 2.2 pc, while terminal elevators increased by 5.1 pc.

ICG also said that fuel prices continued to be affected by higher average prices compared to the previous year.

At the beginning of the year, badysts had reduced their budget forecasts for the year 2018 to ICG from 78.5 million euros to 74 million euros, after the group had been delayed by the delivery of the ship WB Yeats. The group said it had been informed that the WB Yeats would be ready for delivery in early December.

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