Price war continues to buffet P&O

Published: 23 Jun 2004

P&O ferries are still being hit as rival companies continue to cut prices on cross-Channel routes.

The P&O group warned that results for the division were likely to be below expectations as price cuts, such as those announced by Eurotunnel and other ferry operators, combined with the impact of higher fuel costs.

On a brighter note, P&O said its ports business had offset the adverse trends in ferries, with organic growth continuing at more than 15% a year.

For full article go to www.guardian.co.uk

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