AGM Statement - Trading Update

STATEMENT TO ANNUAL GENERAL MEETING



In the 25 weeks to 20 June 2009 we have seen a continuation of the
challenging trends identified in the Group's Interim Management
Statement issued on 14 May 2009. In that Interim Management Statement
we reported that, in the first four months of the year, Group revenue
was down 25% on the same period in 2008, partially offset by a 24%
reduction in operating costs, before depreciation. The reduction in
costs comprised lower payroll, fuel, vessel time charter costs  and
volume related port charges   These trends in revenue and cost  have
continued  .The following is an update on the volumes of traffic
carried to date.


In the car market, our carryings, at 145,500 cars, are down 6.6%  on
the same period in 2008  (this compares with minus 5% at 9 May ),
while passenger numbers are down 9.7%  at  571,000 (-10% at 9 May
2009)

In the Roll On Roll Off freight market Irish Ferries carried 93,700
freight vehicles, down 23 % on the same period in 2008 and in line
with the position at 9 May 2009.

Container volumes shipped by Eucon and Feederlink (178,000 teu) and
containers lifted ( 73,500 units) in our terminals in Dublin and
Belfast are down 29% and 27% respectively after 25 weeks (also in
line with the position at 9 May ).

I reiterate that we are continuing to actively manage our cost base
to leave us in a strong position to benefit when the markets in which
we operate recover.


JUNE 24  2009



ENDS

---END OF MESSAGE---




This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.