TURNOVER for the Sandbanks Ferry is up nearly £1m year-on-year, reaching a record high in recent years, recently submitted accounts show. 

Essex-based Fairacres Group, which runs Bournemouth-Swanage Motor Road and Ferry Company, said 2023/24 was a “more settled year” for the business. 

New accounts submitted to Companies House show a turnover for the ferry of £3,314,355 in 2023/24 compared to £2,400,575 the previous financial year. 

For 2022/23, turnover and profits were down due to the ferry being out of action for a refit and repairs in Falmouth. 

Profits for the 2023/24 financial year are also up, recorded at £906,141 compared to a pre-tax loss of £721,149 the previous year. 

(Image: Daily Echo)

A report by independent auditor Richard Luckin said: "The key business risk affecting the group is considered to be the current economic outlook for businesses and the wider economy.

“The directors are mitigating the impact of this to the extent possible through careful management of business operations and ensuring that spending within the business is carefully managed.” 

It adds the ferry company has shown a “degree of resilience despite difficult circumstances in recent years”. 

Read more: Sandbanks Ferry users face 'paying extra £2k a year'

As well as being out of action for several months, the ferry had to weather the storm of Covid.

Footfall was down for 2020/21, but turnover rose by £152k to £1.85m compared to the previous year. 

Fairacres Group, which also runs two hotels in Suffolk – one closed since 2019 and another that has remained open – posted a pre-tax loss of £316k for the open hotel. 

Richard Luckin added: “The ferry continues to meet the needs of the local community. Revenue and trading returns are anticipated to remain positive during 2024/25.” 

Meanwhile, the Sandbanks Ferry’s proposals are expected to go to a public hearing in December, now the consultation has ended. 

Proposed is the increase in fares that could see pedestrians, cyclists and motorcyclists, who have paid £1 since 2009 to cross from Sandbanks to Studland, paying £1.75.   

Cars or light vans less than 3.5 tonnes, previously paying £5.30, may have to fork out an extra 96p to pay £6.26, or an 18 per cent increase.   

And passenger vehicles such as coaches and HGVs more than 3.5 tonnes could also see an 18 per cent increase from £10.60 to £12.52. 

Ferry managing director Jason du Toit said previously the costs of running the chain ferry had “risen exponentially”, and the company was under “heavy financial strain”.

Previous accounts for the ferry show the following turnover:

2023/24: £3,314,355

2022/23: £2,400,575

2021/22: £3,049,698

2020/21: £1,855,873

2019/20: £1,702,897

2018/19: £2,508,443

2017/18: £3,130,682

2016/17: £3,050,000