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."