Its Dover-Calais ferry route depressed DFDS profit in the first three months lower than the £12 million posted in Q1 2012, on revenue of £309 Depreciation, and Amortization - deficit on the Channel routes on revenue of £43 million, but this was a low season quarter. It expects the situation to pick up strongly in the high season spring and summer 2012. It now operates three ships, with LD Lines' stake at 18%. The Dover-Calais service has faced competition from French-owned co-operative My Ferry Link which emerged from the defunct SeaFrance, of three former SeaFrance ferries and leaseback to My Ferry Link, a stagnation in its key markets in northern Europe, putting further pressure on prices as overall supply of capacity remained virtually year. The result in Q1 was a bit lower than last year but slightly above our expectations and we maintain our loutlook for the full year."

of the year.

The Danish operator reported Q1 profit of £11 million,

million.

It posted a £7 million EBITDA - Earnings Before Interest, Taxes,

months.

DFDS and LD Lines launched the route with a single vessel in February

as well as P&O Ferries. DFDS also operates the Dover-Dunkirk service.

A delayed competition report into Eurotunnel's acquisition

move that prompted complaints from P&O and DFDS, is expected in June.

Niels Smedegaard, DFDS chief executive, said there was continued

unchanged.

"We foresee that this situation will also characterise the rest of the