BC Ferries releases third quarter results

In a press statement issued today, BC Ferries announced its third quarter results for the 3 months to 31 December 2011.

For the three months ending December 31, total revenue decreased by $1 million to $161.3 million compared to the same period last year. Total operating expenses for the period increased $0.8 million to $166.4 million.

Vehicle traffic declined by 3.6 per cent and passenger traffic declined by 3.0 per cent compared to the same period the year prior. The traffic decline has been relatively consistent throughout all three quarters of fiscal 2012 and is the largest year-over-year traffic decline that BC Ferries has experienced in recent years.

Monthly traffic statistics for Route 19 (Nanaimo Harbour – Gabriola Island) indicate that, during the same period, vehicle traffic declined by 4.3% and passenger traffic declined by 2.5% compared to the same quarter in 2010. Vehicle traffic on Route 19 fell a further 7%  in January 2012 compared to January 2011, with passenger traffic in January falling by almost 5% compared to last year.

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