Condor Ferries accounts show nearly £1.5 million loss

Within the figures published, Condor Ferries spent around £6 million on administrative expenses in 2023 compared to around £3.2 million in 2022. Credit: ITV Channel

Condor Ferries made an operating loss of £1,457,623 million in the financial year of 2022-2023, according to the company accounts, which have just been published.

In the previous year, the company made a profit of £480,187.

Figures published in Condor's accounts show the company has spent £6 million on administrative expenses in 2022-23 compared to around £3.2 million in 2021-22.

It comes as the islands have started a tendering process for future sea links with France and the UK.

The ferry company DFDS launched a bid to provide passenger and freight services for Jersey and Guernsey.

Condor Ferries also saw a fall in cash at the bank and in hand assets.

The trend continued as their net current assets dropped to £399,705 in 2023 versus the 2022 figure of £1,238,667.

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