The Isle of Man Steam Packet Group saw profit rise to £12.3 million in 2025 as passenger numbers reached a record high and charter work generated significant additional income.
According to the group’s annual report, profit attributable to equity owners increased from £6.86 million in 2024 to £12.34 million last year.
The ferry operator said operating profit also improved significantly, rising from £7.2 million to £12.3 million.
The improved financial performance came as the company carried a record 682,907 passengers during 2025, an increase of 8.2% on the previous year.
Passenger Growth
The Steam Packet attributed the growth to Manxman’s regular winter weekend Liverpool service and the continued success of its children travel free initiative, which saw more than 69,000 children travel during the year.
Passenger ticket revenue increased by 2.6%, while passenger service revenue rose by 12.9%, driven by growing demand for Manxman’s lounges and cabins, as well as improvements to on-board catering and retail services.
Freight volumes increased by 4.3%, although freight revenue fell by 1.8% because of lower fuel surcharges under the Sea Services Agreement.
Charter work also contributed to the stronger performance, with both Arrow and Ben-my-Chree securing charter contracts during the year, generating £4.4 million in revenue compared with £2.4 million in 2024.
The group also continued to reduce its debt burden, repaying £5.2 million during the year and reducing net debt from £114.7 million to £96.2 million.
