Condor Ferries records losses of £1.5m

Bosses previously admitted the lack of use of Condor ships led to financial difficulties

Condor Ferries lost £1.5m in the year to the end of March 2023, according to newly published accounts.

They showed that "administrative expenses" cost the Channel Islands ferry firm more than £6m, which was up from £3.2m the year before.

The company recorded a turnover of about £7.5m for the year.

Condor Ferries CEO Christophe Mathieu previously admitted the lack of use of its newest ship led to financial difficulties.

Staffing increased, but the value of the company's tangible assets fell, the company said.

In 2022, the company made a profit of about £480,000.