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Displaying items by tag: Record Profit

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.

The Irish Times has more here

Published in Shannon Estuary

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