BC Ferries year end results are in and it looks like the company is up in earnings, up $20 million from last year.
The corporation posted just over $69 million in profits for the 2016 fiscal year, up from $49 million the year before.
But the report doesn’t suggest the increase in earning will result in lower fares.
And BC Ferries’ President and CEO Mike Corrigan says a $3 million capital program is required to replace older vessels, needing to replace a ship every year for the next 12 years.
BC Ferries says low fuel costs and a low Canadian dollar among are things are the reason for the jump in profits.