BC Ferries makes money in first quarter

  • Sep. 3, 2012 6:00 a.m.

BC Ferries made $3.3 million in its first quarter this year, compared to a net loss of $3.5 million in the first quarter of 2011. In the first quarter – April, May and June – revenues increased by almost 6 percent to $197.6 million, with operating expenses increasing 2 percent to $176.9 million, compared to the first quarter of last year. Almost half the increased revenue was due to higher fuel surcharges, BC Ferries said. The increased expenses were attributed to higher fuel prices, and higher depreciation and amortization charges. The improved results came despite a continued drop in traffic. In the first quarter of this year, BC Ferries saw passenger numbers decline 2.4 percent and vehicle numbers down 1.7 percent compared to the previous year. BC Ferries also said it is undertaking a multi-year, $39 million customer service program that will replace its aging point of sale and reservations systems.

Just Posted

Convicted animal abuser to return to B.C. court May 21

Catherine Jessica Adams is facing a breach of probation charge

Concerns over democracy as Senate committee votes to nix oil tanker ban

Critics of the Senate’s recommendation to kill Bill C-48 say it goes against popular will

Northwest Fire Centre open burn ban lifted

Recent rain, cooler temperatures have lowered the region’s fire risk

Telkwa pot plant application passes review

Cannabis company claims new Health Canada regulations are working in its favour

Red cedars dying in northwestern B.C. from drought

There was a 75 per cent decline in precipitation for the months of February and April

QUIZ: Test your knowledge of Victoria Day

How much do you know about the monarch whose day we celebrate each May?

Take-home drug testing kits latest pilot to help curb B.C.’s overdose crisis

Researchers look to see if fentanyl testing could be a useful tool for those who use drugs alone

Facebook takes down anti-vaxxer page that used image of late Canadian girl

Facebook said that the social media company has disabled the anti-vaccination page

Search crews rescue kids, 6 and 7, stranded overnight on Coquitlam mountain

Father and two youngsters fall down a steep, treacherous cliff while hiking Burke Mountain

Raptors beat Bucks 118-112 in 2OT thriller

Leonard has 36 points as Toronto cuts Milwaukee’s series lead to 2-1

‘Teams that win are tight’: B.C. Lions search for chemistry at training camp

The Lions added more than 50 new faces over the off-season, from coaching staff to key players

Rescue crews suspend search for Okanagan kayaker missing for three days

71-year-old Zygmunt Janiewicz was reported missing Friday

B.C. VIEWS: Reality of our plastic recycling routine exposed

Turns out dear old China wasn’t doing such a great job

Carbon dioxide at highest levels for over 2.5 million years, expert warns of 100 years of disruption

CO2 levels rising rapidly, now higher than at any point in humanity’s history

Most Read