Foyle Port posts record results

Foyle Port, Londonderry
Foyle Port, Londonderry

Foyle Port has announced a new record turnover of £9.1million, with an operating profit of £1.8m as it posts results for its sixth year of consecutive growth.

The organisation reinvests all profits and has recently carried out significant capital investment in assets and infrastructure, including a 23 acre expansion to the harbour estate. Employee numbers have risen by around 10% to 100.

“Since the launch of our new strategy, our performance has outstripped targets and the Port business has continued to grow,” said chair Bonnie Anley.

“This model has increased our resilience and put Foyle Port on a strong footing to meet any challenges that lie ahead.

“As we move closer towards Britain’s exit from the European Union we will need to navigate change and uncertainty, both locally and nationally.

“Our strong business model, coupled with our dedicated port team, leave me in no doubt that Foyle Port has the flexibility needed to adapt to a new commercial context and the innovation needed to capitalise on all new opportunities arising in the future.”

CEO Brian McGrath said: “The port’s location at Lisahally underpins our key position as an Atlantic gateway for the United Kingdom and Europe.

“Furthermore, the port’s operations straddle both British and Irish jurisdictions.”