Ferry operator DFDS untroubled by Brexit as revenues grow 8%
Published: 15:00, 22 February 2017
Updated: 15:12, 22 February 2017
DFDS has been untroubled by Brexit worries as it continued to post record earnings last year.
The ferry and logistics business, which carries passengers from Dover to Calais and Dunkirk, enjoyed an 8% increase in revenue in 2016.
Profits grew by 52% and shipping division revenue has rose by 4.4% to £1.08bn for the year.
Kasper Moos, senior vice president for DFDS in the UK, said: “Our earnings increased considerably during 2016, with the vote for Britain to leave the EU having little real impact on our performance.”
The company’s annual report for 2016 showed that freight volumes and UK-Continental trade flows are holding up well despite the outcome of last June’s referendum and the resulting uncertainty.
Full-year revenues for the group were up at £1.56bn compared with 2015.
DFDS’ shipping division accounted for £1.08bn of this, up from £1.03bn, driven by a 21% increase in freight volumes. The company also carried 12% more passengers during the year.
“Our earnings increased considerably during 2016, with the vote for Britain to leave the EU having little real impact on our performance...” - Kasper Moos, DFDS
Higher earnings for the shipping division helped pre-tax profits jump to about £182m, compared with last year.
More money from the DFDS routes from Dover to Calais and Dunkirk accounted for almost half of the increase.
The business carried 17% more freight during the final quarter of 2016 than at the same time in 2015. Passenger numbers on its routes also increased by 6%.
Growth was made possible by increases in capacity, for example through the new ships, Côte des Dunes and Côte des Flandres , on the Dover-Calais service.
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Sam Lennon