Company Snapshot: Norfolkline Irish Sea Ferries Ltd
Norfolkline Irish Sea Ferries is the renamed Norse Merchant Ferries which operates freight and passenger ferry services between Belfast and Birkenhead and Dublin and Birkenhead.
In addition, the company has been operating Ro-Ro freight services from Heysham to both Belfast and Dublin.
The company is a wholly owned subsidiary in the group of companies ultimately owned by AP Moller Maesk, a Danish organisation.
In the year to the end of 2007, the company operated 2,500 sailings into and from Birkenhead, 1,600 from Belfast to Heysham and 1,200 from Dublin to Heysham.
In the last three years, Norfolkline has recorded an improving operating profit which has increased from 2.9% of turnover in 2005 to 3.9% in 2007.
The pre-tax profit figures are influenced by the posting of dividends to this company from within the larger group.
If these dividends are discounted the pre-tax results also show an improving trend which is enhanced by increasing net interest receipts.
Employment in the company has been stable with an average of 329 people employed in 2007, the same as 2006 and six fewer than in 2005.
The accounts show a dividend of £5.2m in 2007 which is on shares classified in shareholders’ funds.