Foyle Port results boost for NW economy
Foyle Port generated record turnover levels of Â£7 million in the 2015/16 financial year as it continued to handle annual trade valued in the region of Â£1 billion and support an estimated 1,000 jobs in the North West.
Derry’s Port and Harbour Commissioners’ annual report for the financial year ended March 31, 2016, reveals it recorded a solid financial performance with significant contributions from each of its business divisions.
Bonnie Anley, Chair of Foyle Port, said: “Our core business had a strong performance for the year with an increase in vessels facilitated and a number of new cargoes handled, including woodchip and concrete blocks. Overall the 1.7 million tonnes handled represent a total value in the order of £1bn.
“Overall record turnover of £7m was achieved in line with our strategic targets with all profits reinvested.”
In 2015-16, the port invested £1.9m in port assets and infrastructure including the first payment for a new harbour tug.
The Commissioners said a further £1m has been committed for additional infrastructure and development of the harbour estate’s land bank to facilitate growth – including initial work on its vision to see a new cruise terminal built in Lough Foyle to transform tourism in the region.