Port of Cork Company and Bantry Bay see rise in turnover

Port of Cork Company and Bantry Bay see rise in turnover

The Port of Cork Company and Bantry Bay Port Company have announced a rise in their combined turnover for 2017 when compared to 2016.

Their numbers that consolidated Turnover for last year was €31.5m, which includes a turnover of €540,000 for Bantry Bay, up from €29.6million (€210,000 for Bantry Bay) in 2016.

Due to improved trading activity and an improved return in Bantry Bay, their consolidated profit on ordinary activities before taxes came to €5.9m, an increase of €1.8 m when compared to the profit of €4.1m in 2016.

Last year, the amount of trade traffic that came through Port of Cork and Bantry amounted to 10.3 million tonnes compared to 9.5 million tonnes in 2016 - a rise of 814,000 tonnes or 8.6%.

Port of Cork Chairman John Mullins said: "Our annual results for 2017 are very positive and the increase in total traffic is a reflection of these figures.

"I am also pleased to say that in 2017 the Port of Cork Company approved a dividend payment to the Exchequer of €693,065, an increase of 3% on 2016.

"We are committed to supporting the shareholder and will continue to pay a yearly dividend while also pursuing our capital strategic development plan."

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