SEAFRANCE is planning to invest ú203m in a batch of new ferries over the next five years after making its first profit.
The ferry operator reported a 7.4% rise in turnover to ú129m in 1998 and turned a ú1.2m loss in 1997 to a ú1.26m profit last year.
SeaFrance managing director Robin Wilkins said: “Now that we have established ourselves we want to invest in the fleet.
“The P&O/Stena merger has come into effect, creating a more stable market and fares have started to go up. The customers expect more and we need more capacity.”
Motor vehicle volumes rose accordingly in all categories with SeaFrance carrying 595,000 cars and 30,800 coaches in 1998. This is a 1.4% and 14.9% rise respectively on 1997.