Viking Line, the Finnish cruise ferry company, has reported an increase in net profit for both the second quarter and the first half of the year on back of a sale gain, but volumes of freight and passengers barely changed.

Group net profit rose to €17.4 million in the second quarter from €0.9 million the same period last year, while revenues increased to €140.3 million from €131.9 million. In the first half, the company posted a profit of €1.6 million compared to a loss of €14.1 million. Revenues increased to €255.3 million from €233.1 million. However, both fresh figures were boosted by a €22.8 million gain from the sale of the cruise ferry Isabella to the Tallink Group.

The company carried about 3.0 million passengers in the first six months of the year, a fractional increase year on, while freight volume of about 60,000 units marked a slight drop. However, the new Viking Grace cruise ferry that the company introduced on service between Turku and Stockholm in January, helped the company to grow market share in that service to 58.8%.

Looking ahead, the board said tough competition continues to keep pricing under downward pressure, but it expects the full year net profit to exceed the €1.0 million figure the company reached in 2012, partly due to efforts to reduce costs.