Profit up 76pc at DFDS

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DFDS saw first quarter operating profit rise 76 per cent last year following the takeover of Norfolk Line.

First quarter sales were up 67 per cent on last year at DKK 2.7bn (£320m) while EBITDA was up 76 per cent to DKK 183m (£21.7m).

Chief executive Niels Smedegaard said: “In the first quarter, we have seen a mixed picture on the freight market, with strong growth inthe Baltic region and lower growth on the North Sea. Results in the transport and logistics area have greatly improved, and the positive developments in passenger activities have continued. Overall, the first quarter has got us off to a good start for the rest of the year.

“The integration of Norfolkline and the derived synergies are ahead of plan. To further improve our competitive edge, we are simultaneously implementing two major improvement projects: Headlight, to boost our earnings in the Logistics Division, and Light Crossing, to streamline operations on the English Channel.”

The profit expectation for the full-year 2011 is unchanged a pre-tax profit of DKK 550m (£65m), including special items concerning integration costs and profit from the sale of DFDS Canal Tours.


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