Pre-tax profits up for DFDS

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SHIPPING and logistics company DFDS, which runs services out of Portsmouth, has announced pre-tax profits of €47m (£39m) – a rise of 139.7 per cent.

The Danish group’s revenue grew to €1.6bn (£1.3bn), a 3.4 per cent increase from 2012 and operating profit grew to €163m (£134m), an 11 per cent increase.

DFDS Seaways’ Channel operations were impacted by the current ‘over-capacity’ in the ferry market.

The total passenger car market rose by 2.8 per cent in 2013, across four Channel routes, whilst the total freight market rose by 4.7 per cent in 2013.

Carsten Jensen, senior vice president of the company, said: ‘We are encouraged by the 2013 financial results, whilst there is a way to go in 2014 we can see opportunities to strengthen our offering. We find ourselves in a challenging environment within the Channel ferry market.’