DFDS reports best ever quarter one result
- Ferry and logistics operator posts four per cent increase in revenue for first three months of 2017 – its best-ever first quarter result
- Profit before tax was up by 10 per cent thanks to strong freight performance despite slightly weaker UK passenger numbers due to the late Easter
DFDS has reported a strong start to 2017 with revenues for the pan-European ferry and logistics company up four per cent in the first quarter of the year.
In an indicator of strong underlying economic trends, freight volumes and UK-Continental trade continues to grow and the company reports an 10 per cent increase in shipments on its North Sea freight routes and a 3 per cent rise in freight on its cross-Channel routes from Dover to France. First quarter revenues for the group were €432m (£363m), compared with €414m (£348m) for the first three months of 2016. This helped the company to its best-ever first quarter result.
Freight volumes across the company’s route network, including services from the UK to Holland, France and Scandinavia were up by seven per cent. This helped its Shipping Division to a first quarter profit of £42m, despite lower levels of passenger activity during the off peak season.
Kasper Moos, vice president for DFDS in the UK, said: “We continue to deliver solid results despite challenging market conditions and we’re delighted to have recorded our best-ever first quarter. Our continuous improvement is driven by hard work, an intense focus on the needs of our customers and our efficient operating model, as well as major investment programmes to improve the experience for customers in the freight and passenger sectors. We’ll continue to invest in our digital capabilities and work to grow our business and we’re looking forward to adding two new-build ro-ro ships to our North Sea fleet later this year.”
DFDS reports a positive outlook for growth in the remainder of 2017, with the business on track to deliver a further improvement on the record full-year earnings recorded in 2016.
Posted on 12/05/2017