Foyle Port results boost for NW economy

Foyle Port generated record turnover levels of £7 million in the 2015/16 financial year as it continued to handle annual trade valued in the region of £1 billion and support an estimated 1,000 jobs in the North West.

Thursday, 29th September 2016, 2:48 pm
Updated Tuesday, 4th October 2016, 2:00 pm
Foyle Port handled trade valued in the region of £1bn. during 2015/16.

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.