February 29, 2024
Business News

Calm trading waters at Bellview Port as profits soar to €2m

BELLVIEW Port’s finances are in ship-shape order after the company announced profits of almost €2 million for last year.

The South Kilkenny-based port’s accounts published this week show operating profits of €1.9million for the year to December 31, an increase of 12% on 2017.

Turnover in 2018 was €8 million, up from €7.6m in the prior year.

Shareholders’ funds stood at €32.7 million at the year-end and the company is to pay a dividend of €330,000 to the Department of Transport, Tourism and Sport.

Bulk throughput at the port over the year past amounted to 1.7 million tonnes, a 28% increase on 2017, which had itself seen a 27% increase over 2016.

Containers handled grew by 3% while there was strong breakbulk activity including, for example, shipments of steel and timber.

In a statement, the port said this traffic reflects increased economic activity, including in the construction sector.

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