Red Funnel announces positive end of year results for 2005
25-01-2006 Red Funnel, the Isle of Wight specialist, has announced a successful 2005 with extremely positive market share results.
Red Funnel increased its share of the car market on its Southampton <> East Cowes route by 10.03% (48,165 units) while the overall car market grew by 3.42% (58,183 units).
Red Funnel also enjoyed good growth in the commercial vehicle sector with an increase of 13.07% compared to 2004, while the overall market grew by just 1.60%. Coach traffic also showed a significant growth of 6.13% compared to an overall market fall of –0.04% in 2005.
Red Funnel’s 2005 passenger carryings increased by 3.83%, while overall passenger traffic to/from the Isle of Wight grew by just 0.85%.
Colin Hetherington, Commercial Director, Red Funnel, comments, “2005 was a challenging but extremely positive year for Red Funnel, and we are looking forward to building on this success during 2006. Red Funnel offers the largest choice of ferry inclusive accommodation to the Isle of Wight and is on course to becoming a fully integrated travel, transport and leisure company operating across the different market segments.
The completion of the vessel stretch programme means we not only have the newest fleet but also the largest passenger vehicle ferries ever to serve the Isle of Wight. Our move to a more fluid pricing structure for 2006 has seen the introduction of some extremely competitive lead in fares for both the public and the travel trade. Ferry and accommodation inclusive packages to key Island events such as the Isle of Wight Festival and Bestival are already on sale and these together with the Isle of Wight Walking Festival, RIBEX, the Wight Diamond Mountain Biking Festival, Skandia Cowes Week and the Cowes Powerboat Festival should attract an increasing number of visitors this year. New boutique hotels, chic restaurants, unique attractions and contemporary exhibitions will further raise the profile of the Isle of Wight as a must-visit destination in 2006.”