Red Funnel, the Southampton-to-Isle of Wight ferry operator, is to increase the number of services between the mainland and Cowes from next month.

The boost to the company's timetable of crossings comes as the ferry operator reports an "excellent'' year for business in 2000.

Olive Glass, Red Funnel's marketing director, said there had been a steady growth in its market share across the board.

Southampton's new multi-million-pound WestQuay complex has been pinpointed by Red Funnel as one of the main reasons for the increase in passenger numbers.

This has to be good news for the company's new owner, American banker JP Morgan, which acquired Red Funnel from Associated British Ports at the end of last year in a £70m deal.

"The number of passengers carried by Red Funnel increased steadily throughout the year, with carryings on the Hi-Speed Red Jet service showing substantial growth of 6.75 per cent, year on year,'' said Ms Glass.

"Car carryings increased by almost 1,000 and commercial traffic in particular has grown by a massive 10.75 per cent.''

To cater for extra demand at peak times Red Funnel has decided to increase sailings on both its Hi-Speed and car ferry services. Two extra commuter sailings will be introduced from Monday, February 19, on the fast catamaran service at 6.50am and 7.10am from Southampton and 7.20am and 7.40am from West Cowes, providing additional capacity at busy times.

From Saturday, February 17 until December 23, an almost-24-hour car ferry service will run hourly between 1am and 11pm from Southampton, with return sailings on the half-hour.

At peak times of the year, such as Skandia Life Cowes Week during the summer, the vehicle ferries will operate an even more frequent service of every 50 minutes.

"We are very pleased to see our market share steadily grow,'' said Ms Glass.

"The Hi-Speed service has benefited in particular from the opening of the WestQuay shopping centre in Southampton.

"We are also partners in the new free bus services, City Link and City Loop, which have greatly improved the integrated transport system, both for shoppers and business commuters.''