P&O profits beat fuel load
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The shipping giant P&O announced pre-tax profits for the six months to June 30 were £192.1 million, against £171.7 million. The jump comes despite higher fuel prices costing it an extra £50 million and the loss of duty-free shopping within the European Union.
The shipping giant P&O announced pre-tax profits for the six months to June 30 were £192.1 million, against £171.7 million. The jump comes despite higher fuel prices costing it an extra £50 million and the loss of duty-free shopping within the European Union.
Chairman Lord Sterling of Plaistow said the demerger of its cruises division is progressing on track and is expected to take place on October 23.
P&O also today announced it was taking full control of German cruises group Aida Cruises - buying the remaining 49-per-cent stake it did not already own for £35.4 million.
The impact of the loss of duty free and higher fuel costs meant P&O Ferries turned in an operating loss of £7.4 million in the period, against a profit of £19.2 million the time before. This was offset by better results from P&Oÿs ports division, where operating profits were up to £40.3 million, against £26.9 million and cargo shipping, which turned a loss of £25.5 million into a ££13.2 million operating profit.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments