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Isle of Man Steam Packet profits almost double in record year
Overview
The Isle of Man Steam Packet Company reported a nearly doubled profit of £12.3m for the previous year, up from £6.9m, driven by a record number of passengers and vessel rentals. The government-owned ferry operator also reduced its net debt to £96.2m, though future financial performance may be impacted by an estimated £5m repair bill for its flagship vessel, Manxman.
Key points
- Annual profit increased to £12.3m from £6.9m previously.
- The company carried a record 682,907 passengers in 2025, an 8.2% increase.
- Net debt owed to the Treasury fell from £114.7m to £96.2m.
- Revenue rose by 3.9% to £90.6m, supported by increased winter sailings and a fare reset.
- Flagship vessel Manxman has been out of service since July for repairs expected to cost about £5m.