IrishExaminer.com Business - 21:43 ET Mar 16, 2010Irish Continental Group plc (IR5A)
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Dan Cavanagh
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Goodbody StockbrokersThe group owns the Irish Ferries and Eucon companies among others. Yesterday, in a results preview note
ICG is scheduled to publish its latest set of annual results next Tuesday Goodbody Stockbrokers said that it expects the figures to include a 45% drop in adjusted earnings per share to 89c, a 19% fall in group revenue and a 16m drop in earnings before interest, tax, depreciation and amortisation (EBITDA) to 50m.
"Further, declines in volumes passing through the ports sees our port charges and associated charges decline by 20% broadly in line with the expected fall in revenues," said Goodbody analyst, Dan Cavanagh. Analysts are also anticipating more visibility on certain factors, including booking trends coming into the summer season, any recovery in the freight market and to what degree passengers are switching to ferries as airline prices increase. While a mention from
ICG management regarding the group's Pride of Bilbao ferry may be forthcoming, it is not expected to be overly detailed.
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The group owns the Irish Ferries and Eucon companies among others. Yesterday, in a results preview note <span class="company">ICG</span> is scheduled to publish its latest set of annual results next Tuesday Goodbody Stockbrokers said that it expects the figures to include a 45% drop in adjusted earnings per share to 89c, a 19% fall in group revenue and a 16m drop in earnings before interest, tax, depreciation and amortisation (EBITDA) to 50m.<span class="sent"> "Further, declines in volumes passing through the ports sees our port charges and associated charges decline by 20% broadly in line with the expected fall in revenues," said Goodbody analyst, <span class="analyst">Dan Cavanagh</span>.</span> Analysts are also anticipating more visibility on certain factors, including booking trends coming into the summer season, any recovery in the freight market and to what degree passengers are switching to ferries as airline prices increase. While a mention from <span class="company">ICG</span> management regarding the group's Pride of Bilbao ferry may be forthcoming, it is not expected to be overly detailed.
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