A PRIVATELY owned ferry company has reported a near 32 per cent increase in profit after seeing efficiencies from its new fleet starting to come through.

Accounts recently filed at Companies House for Western Ferries (Clyde) show turnover rose almost six per cent from £7.31 million to £7.73m.

Pre-tax profits went from £2.05m to close to £2.7m in the 12 months to March 31 while net debt was reduced from £3.8m to £1.1m.

The business, which operates a vehicle-carrying service between Hunters Quay near Dunoon and McInroy's Point near Gourock, Inverclyde, managed to trim its and administrative expenses in the year.

Managing director Gordon Ross described the period as one of “consolidation”.

He said: “The focus has been really been giving ourselves the space to focus on the next stage of development.

“The next thing will be looking at the old infrastructure at our terminals and to modernise that.”

The company’s two latest ferries, the Sound of Soay and the Sound of Seil, came into operation in October 2013.

Mr Ross said the business had seen benefits in the fuel efficiency, larger capacity and greater speed of the new vessels.

He said: “You can see the impact of the new boats on our costs. They burn less fuel, don’t require as much maintenance and are boats which our customers like to use.”

The company is now looking into further major investment to replace part of its linkspan and berthing facilities.

Mr Ross said: “Unfortunately we don’t have the resources to spend £100m on new boats and another tranche on shore side infrastructure so we have to do things at our own pace.”

Mr Ross confirmed preparation work for the project has started including some design work.

He said: “We have to do seabed analysis in spring so I would imagine we will be able to press the button on it in June.

“There is a commitment from the Western Ferries board to continue to improve the product to the people who use our services.”

Passenger numbers in the most recent financial year were said to be steady but the company said it had benefited from more large commercial vehicles using its services.

Mr Ross, who has been with Western Ferries since 2004, said: “It is a steady and mature market.”

The accounts show staff numbers were steady at 66 while employee costs rose marginally to £2.81m.

An equity dividend of £500,000 was paid during the financial year.

Publicly owned Argyll Ferries, which receives a subsidy of more than £3.4m from the Scottish Government, recorded pre-tax profit of £533,000 on turnover of £4.3m in the 12 months to March 2015. It runs foot passenger services between Gourock and Dunoon town centre.