Port authority stays afloat thanks to increase in traffic

A MAJOR port company has turned around its finances, keeping the authority very much afloat into the future.

The Port of Waterford Company has reported strong trading results for 2003 with an upturn in traffic through Belview yielding a much improved financial performance.

The annual report for 2003 presented to the company's shareholders and board at its Annual General Meeting records a post-tax profit, the first since incorporation of the semi-State company in 1999.