BC Ferries has released its first quarter results.
The documents show passenger traffic levels were the highest BC Ferries has experienced in 20 years and vehicle traffic levels were the highest the company has ever experienced.
However, net earnings for the three months ending June 30th were 17 point 3 million dollars, compared to net earnings of 27 million dollars in the first quarter of the previous year.
That’s because Mark Collins, BC Ferries President and CEO, says ticket prices were stable while the company absorbed increased operating costs.
Operating expenses increased by almost 9 per cent, mainly due to an increase in fuel consumption, labour and training related costs that resulted from the higher traffic volumes, an increase in round trips and the introduction of new ships.
