Danish ro-ro group DFDS has increased first quarter earnings as revenue and volumes grew.
The company posted net profit of DKK 150m ($21.95m), up from DKK 143m a year ago, while revenue was up at DKK 3.22bn, against DKK 3.08bn.
Freight volumes rose 10% in the North Sea
Its EBITDA before special items increased 2% to DKK 414m following higher earnings in the shipping division.
"We achieved a Q1-result ahead of last year. Combined with a continued positive outlook for growth in Europe, we are on track in 2017 to further improve on the all-time high results of last year," said CEO Niels Smedegaard.
Overall freight volumes were up 7%, while passenger volumes were 10% lower than last year.
The first quarter is DFDS' low season with reduced passenger activity, however.
Full-year revenue growth is still expected to be around 4%, while EBITDA before special items should be between DKK 2.6bn and DKK 2.8bn.
