Marine firm’s profits up 54%

PRE-TAX profits at integrated marine services company Irish Mainport Holdings jumped by 54% to €1.88m in 2004.

The Cork-based shipping, tug-boat, stevedoring, warehousing and logistics company reported sales up 33% to €16.76m (2003: €12.59m) in the year to the end of March 2004, according to accounts lodged with the Companies Registration Office. Retained profits were e6.9m at the end of the period under review.

Mainport, headquartered on Monahan Road, operate a number of companies supplying services to the marine sector in Cork, Foynes, Dublin, Waterford, Belfast, Killybegs and South Africa.