Shannon Foynes Port Company Records €2.9m Profit

9th September 2012

#SHANNON FOYNES – An operating profit close to €2.9m for last year (up from €2.5m in 2011) was recorded by Shannon Foynes Port Company (SFPC) according to yesterday's Irish Times.

SFPC recorded a 2.2 per cent rise in turnover to €10.1 million, resulting in a 13 per cent increase in operating margin from 25.5 per cent to 28.1 per cent, according to the 2011 annual report.

The company made a profit attributable to the shareholder of €2.73 million after exceptional items and financing. Cargo increased 8 per cent to 10.1 million tonnes from 9.4 million tonnes in 2010. About 35 per cent of Ireland's bulk traffic transits through SFPC's six terminals on the estuary.

Published in Shannon Estuary

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Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals.

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Shannon Foynes Port Information

Shannon Foynes Port (SFPC) are investing in an unprecedented expansion at its general cargo terminal, Foynes, adding over two-thirds the size of its existing area. In the latest phase of a €64 million investment programme, SFPC is investing over €20 million in enabling works alone to convert 83 acres on the east side of the existing port into a landbank for marine-related industry, port-centric logistics and associated infrastructure. The project, which will be developed on a phased basis over the next five years, will require the biggest infrastructure works programme ever undertaken at the port, with the entire 83 acre landbank having to be raised by 4.4 metres. The programme will also require the provision of new internal roads and multiple bridge access as well as roundabout access.