EMEA News
Efficiency Focus for Ferry Operator as Profits Rise
Danish ferry operator DFDS reports its pre-tax profit rose 13 percent to DKK 307 million ($55.4 million) in the second quarter of 2013, compared with the same period last year, driven by higher volumes in the North Sea and higher earnings for its Amsterdam-Newcastle passenger route.
"We are pleased with the improved financial performance in the light of the continued weak growth in most northern European markets and generally strong price competition," said CEO Niels Smedegaard.
"We, therefore, maintain focus on the efficiency and improvement projects that are contributing to the improved performance."
DFDS increased its revenue 5 percent year-over-year to DKK 3.3 billion ($603 million).
While the company reported improvement in the North Sea and Amsterdam-Newcastle route, it said other shipping activities declined as demand in the Russian freight market dropped and levels of competition on the English Channel remained "unsustainable."
DFDS has called for European governments to provide more support for the short shipping industry as it faces new expenses to meet emissions requirements.
