Strikes hit Irish Continental Group profits

Strikes hit Irish Continental Group profits

Profits at Irish Continental Group (ICG) have fallen by at least 10 per cent this year, as a result of the industrial action that began on December 2 at its Irish Ferries subsidiary.

Profits at Irish Continental Group (ICG) have fallen by at least 10 per cent this year, as a result of the industrial action that began on December 2 at its Irish Ferries subsidiary.

The strike at the ferry operator is believed to be costing ICG about €1.5 million in operating profit each week. This translates to about one cent a day in lost earnings per share.

The sharp drop in profitability, after just a week of strike action,...

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