Mid-west port firm nets €182k profit

SHANNON Foynes Port Company – which manages Foynes and Limerick ports – turned a small profit for 2009.

An operating profit, before financing costs, loss on disposal of assets and exceptional items, of €1,956,000, was recorded, down just 7% on 2008, resulting in a post-tax profit of €182,000 for 2009.

Company chairwoman Kay McGuinness said with the port sector experiencing extremely difficult trading conditions, the company’s achievement in staying in profit last year cannot be overstated. Tonnage throughput was down 30%.