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Superfast Ferries posts increased profits

Superfast<.> Ferries has announced increased profits and market share for the first nine months of 1999…

Superfast<.> Ferries has announced increased profits and market share for the first nine months of 1999.

Specifically, the company transports 23.1% of all passengers and 27.1% of trucks from all ports on the Greece-Italy line. Last year, for the same period, the corresponding figures were 21.4% and 24.1%.

In the first nine months of this year, Superfast transported 437,000 passengers (up 12.4%), 77,900 trucks (up 28.5%) and 87,000 passenger vehicles (up 14.8%).

Pre-tax profits rose to 10.895 billion drachmas, up from 10.523 billion drachmas for the same period in 1998, despite rising global oil prices. Post-tax profits totalled 7.908 billion drachmas, up from last year.

Its investment plan involves the construction of 11 large car passenger ferries, six of which will go to Superfast Ferries and five will go to Strintzis Lines, in which Attica Enterprises has acquired a controlling interest. These vessels are set to begin operating in 2000 and 2001 and should boost the group`s profits significantly.

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