LONDON (ShareCast) - (Sharecast News) - Shipping and transport group Irish Continental warned on Thursday that uncertainty and travel restrictions as a result of the Covid-19 pandemic had led to a "significant reduction" in passenger traffic and forward bookings.
Irish Continental said it was "very difficult" to estimate the full-year financial impact of the pandemic on the group, given that the reduction in passenger revenue would be "material", but added that the severity of the reduction would be dependent on the duration and nature of travel restrictions over the peak Summer season.

Year-to-date car volumes were down 62%, with total passenger volumes down 60%.

However, the London-listed firm's Irish Ferries freight business and its container and terminal unit experience a much "more limited" impact from Covid-19. Year-to-date ro-ro volumes were down 4%, container volumes were down 13% and container lifts on its terminals were down 14%.

Irish Continental added that it was in "a strong financial position" to weather the Covid-19 storm.

As of 1120 BST, Irish Continental shares were up 0.47% at €3.72 each.

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