Displaying items by tag: Record Profits
It was another record performance achieved at Shannon Foynes Port Company (SFPC) as the western port revealed its annual report for 2018.
According to SFPC, earnings before interest, tax, depreciation and amortisation (EBITDA) were €6.8million. As for operating profits in the period they remained exceptionally strong at €4.8million, €1.2million or 34% higher than five years ago, 2014. Revenue increased by 4.9%.
The company’s main ports on the Shannon Estuary, Foynes and Limerick, again achieved record tonnage levels, with an 11.7% increase in throughput. However, overall tonnage throughput was down by 5.5% to 10.7million due to a reduction of activity at privately managed terminals on the estuary.
This is the sixth year in succession that general cargo terminals have increased year on year.
Tonnages at Foynes and Limerick terminals for 2018 are some 50% higher at end 2018 than at end 2013 and exceed previous historically high tonnage levels experienced during 2006 by 11.2%.
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#ports&shipping - A record-breaking 50% rise in profits has been announced by Foyle Ports and the news has led to the company's "strongest financial performance" in its 162-year history.
The Irish News reports that the Derry port reported its fifth year of consecutive growth at its Annual General Meeting, with record operating profit of £2.2million generated from a turnover of £8.6 million for the 2016/2017 period.
As documented previously the port re-invests all its profits to improve the business and upgrade facilities and last year capital investment totalled £3.6 million. This included state of the art tug boat to safeguard the future shipping operations in Lough Foyle. To date over £30million has been re-invested as part of the long-term capital expenditure programme.
For further reading on the financial performance of the north-west port, click here.
#SFPCrecordProfit – Record profits at Shannon Foynes Port Company were announced in their annual report for 2013, which revealed record operating and gross profits.
SFPC is Ireland's second largest bulk port company and operates six ports on the Shannon Estuary, including Limerick Port.
This is the company's fourth successive year in achieving record operating profits, showing a 35 percent increase in Operating Profit at €4.1m, up from €3.1m in 2012.
The Limerick Leader has more on this to report, by clicking HERE.