Viking Line, the Finnish cruise ferry group, has posted a first half 2013 pre tax profit of €1.9 million compared to a loss of €14.9 million in the same period a year earlier. However, the fresh figure includes a gain of €22.8 million related to the sale of the cruise ferry Isabella to Tallink. Revenues rose 9.5% to €233.1 million.

In the second quarter, the company made a pre tax profit of €17.6 million compared to €0.9 million a year earlier. Revenues rose 6.4% to €140.3 million.Again the sale of Isabella improved the fresh figure.

"Competition in Viking Line’s service area remains tough and implies continued pressure on prices. Market growth is very low, but service on the Viking Grace is expected to continue its positive performance. The Group has an ongoing action programme to improve the efficiency of its operations," Viking Line said in a statement

"The Board of Directors believes that operating income excluding capital gains will improve in 2013 compared to operating income in 2012. Income before taxes, excluding the capital gain related to the sale of the Isabella, is expected to be at about the same level as last year.

The number of passengers on Viking Line’s vessels during the six month report period increased by 87,012 to 3,015,144 (2,928,132). The Group had a total market share in its service area of approximately 34.4% (33.8%). Viking Line’s cargo volume was 59,364 cargo units (61,494). Viking Line achieved a cargo market share of approximately 20.8% (20.6%).