Steam Packet returns to profit after pandemic loss

Profits up significantly on 2021's figure

The Isle of Man Steam Packet Company has recorded a significant uplift to its finances posting profits of almost £11.1 million.

The figures show a good set of results exceeding pre-pandemic levels, and putting up an almost 450-percent increase to profits in comparison to its 2021 loss.

The report which is expected to be laid before Tynwald when they return from summer recess shows £11,080,551 profit - the year before had a more than £3.2 million loss.

Meanwhile, separate operations of the group show accounts are in the black by £14.5 million, bouncing back from it's 2021 figure of a near half a million pound loss.

Operating expenses incurred by the organisation see staff costs - not including wages and salaries - of roughly £15.5 million, £1.2 million spend on repairs and maintenance, almost £14 million on fuel.

Revenue again sees large boosts in comparison to 2021, sitting at £72.2 million, with the majority of that figure being generated from passengers and freight.