Displaying items by tag: Record Profit
Shannon Foynes Port Achieved Record Profit Last Year
The government-owned Shannon Foynes Port achieved a record profit before tax of €4.9 million last year, its annual report shows.
The port's profit, which was up from €4.4 million in 2018, was achieved despite an overall reduction in tonnages on the year before.
The facility on the Shannon estuary, which is the country’s largest bulk port for non-container freight, pointed out that 2018 was a record year for tonnage throughput due to elevated agricultural inputs arising from the drought-imposed fodder crisis.
Turnover decreased by 4.6 per cent to just under €14 million, down from €14.7 million in 2018.
Year-on-year overall tonnage throughput decreased by 10 per cent to 9.6 million tonnes, with reduced imports of coal for electricity generation accounting for most of this reduction.
