Ferries profit down

  • Jun. 23, 2008 5:00 p.m.

BC Ferries made a profit of $37.1-million in the fiscal year ending last March 31, documents made public by the corporation reveal. That’s down from a $48.8 million profit the year before, attributed to the significant cost of new assets acquired during the year. Revenues for the most recent year were just over $640-million, up from $596-million, while expenses increased from $528-million to $569-million. Capital expenditures were $452-million in the year ending last March, up from $262-million the year before. Expenditures included new vessels, vessel upgrades and modifications, as well as %54-million for terminal modifications. Ferries continues to be concerned about the unprecedented level of fuel prices and the impact that could have on travellers. It says if prices remain high, it will need fuel surcharges in the near future. Financial statements are available at www.sedar.com