Irish Continental Group (ICG) has increased its 2016 profit as volumes grew.

The net figure was EUR 58.8m ($62.24m), against EUR 53.7m in 2015, while revenue rose 1.5% to EUR 325.4m.

Ro-ro freight volumes climbed 5% to 286,100 units and cars edged up 3.3% to 410,000.

Its Eucon containerships carried 6% more boxes at 303,600 teu.

The Irish Ferries unit pushed up EBIT to EUR 52.3m from EUR 48.1m, while Eucon and its terminals produced profit of EUR 10.3m from EUR 9.1m in 2015.

Looking ahead, it said that due to the ongoing improvement in the economic outlook, it expects another year of volume growth, but with higher fuel prices and weaker sterling.

"Nonetheless, we expect 2017 to be a year of strong cash generation and to see the continued strengthening of our balance sheet," it added.

"We look forward to the arrival in 2018 of our new ship which will bring cost savings and significant additional earnings potential to the group."