Buoyant Foyle Port: 22% hike in profits to £1.85m, turnover up 17% to £10.8m and trade rises 11% to 1.93m tonnes

That’s according to the Chair of the Port and Harbour Commissioners Bonnie Anley, who, in a statement introducing the harbour’s annual report, acknowledged that the bounce-back followed a year (2020/21) in which trade was affected by a huge fire in a grain shed in July 2020.

"Despite the uncertain backdrop to the year, trade levels increased by 11 per cent to 1.93million tonnes with turnover achieved of £10.8million representing an increase of 17 per cent on our previous year.

“It should be noted that last year’s trade and turnover figures were reduced as a result of business interruption due to a significant fire on port premises during 2020,” she stated.

Ms. Anley confirmed that increased imports of liquid and break bulk (solid goods) cargo being traded through the Derry hub in 2021/22 helped boost commerce over the year.

There was also an uplift in project cargoes [equipment for infrastructure projects] and new export trade, she stated.

Unsurprisingly tourism trade continued to take a hit due to the pandemic with fewer cruise ships in town.

"Our cruise ship activity continued to be affected by the Covid-19 pandemic throughout this trading year, however the outlook is increasingly more positive for this industry,” she said.

Foyle Port’s harbour estate revenue was up over the year thanks to the addition of ‘a number of new tenants’ while it continued to make money via a wide range of services.

"The Port also achieved a solid performance from our diversified activities which includes our marine services business, our consultant engineering business, and our steel fabrication business.

"Foyle Marine Services continued to provide external dredging and towage services to ports and harbours throughout the UK and Ireland,” she said.

All of this contributed to increased profits year-on-year.

"This year Foyle Port achieved operating profit of £1.85million, which is an increase of 22% on our previous year. As a self-financing organisation, a strong operating profit is essential to ensure continued investment in port facilities and growth in our competitive offering,” said Ms. Anley.

Significant sums have been set aside in order to improve and develop the Port.

"During the year, the Commissioners re-invested £3.6million in fixed assets including a significant land acquisition to expand the harbour estate and provide essential capacity for growth.

"A further £3.3million of capital commitments has been approved with budgeted capital expenditure of £7million over the coming years,” the Port chair confirmed.

The historic organisation continued to use its profits to support a variety of local causes.

“Foyle Port also supported a number of local charities and sports clubs during the year with 1 per cent of port profits going towards the Organisation’s corporate responsibility fund.

"Organisations receiving donations this year included Strathfoyle Community Groups, Foyle Foodbank, YMCA Ukraine Humanitarian Appeal, and the Woodland Trust.

"In addition, we recently supported Culmore Community Club’s ‘Cooking on a Budget’ programme which aims to help members of the local community cope with food poverty,” Ms. Anley said.

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