Foyle Port turnover hits new levels despite Brexit challenges

Foyle Port.
Foyle Port.

Foyle Port has announced a new record turnover of £10 million - with an operating profit of £1.9 million - for the 2018/2019 financial year.

Recent financial success has allowed the Port to undertake ambitious capital investment in assets and infrastructure to the tune of £3.5 million. This includes the purchase of a new harbour crane and expansion of the Port’s landbank to 155 acres.

The average number of employees is now around 107 which is a year on year increase representing payroll costs for the organisation of £4 million per year.

Foyle Port Chair, Bonnie Anley, said: “Over the last year, in particular, there has been ever-increasing anxiety about Brexit and its impacts. Potential change and uncertainty, both locally and nationally, has had to be managed.

“We’ve risen to that challenge and are ready for the outcome of Brexit in terms of a ‘deal’ or a ‘no deal’ scenario.”

Foyle Port Chief Executive, Brian McGrath, added: “We are delivering on our ambitious strategy at a time of considerable uncertainty. The ongoing Brexit debate and devolved political uncertainties continue to be part of our strategic thinking in the short to medium term as we enter a new era in the aftermath of a divisive Brexit experience.”