According to Irish news, the bosses of Co. Derry’s Foyle Port said “serious challenges” posed by the COVID-19 pandemic contributed to a 9% drop in trade in the year ending March 31, 2021 .
Derry’s port of trust reportedly said its performance for the fiscal year ended March 31, 2021 remained “resilient” despite affected revenue and earnings.
COVID-19 and Brexit
Trade fell to 1.7million tonnes in the 12 months, with turnover down 11% to 9.2million pounds.
Pre-tax profits fell 20% on the year to £ 1.3million.
Foyle Port bosses have reportedly said that despite the challenges posed by the pandemic and the post-Brexit landscape, it still managed to reinvest £ 1million in fixed assets over the past fiscal year.
The deepwater facility’s annual report reportedly said employment of its 108 employees generated £ 4.3million in wages during the year, with 80% of its electricity now coming from fuel sources low carbon.
Over the past year, the port reportedly said it reduced its CO2 emissions by 76 tonnes, with plans to invest in more electric vehicles.
Foyle Port President Bonnie Anley reportedly said: “Today’s financial results illustrate the scale of the challenge that the COVID-19 pandemic and the struggle with the post-Brexit business environment has posed for Foyle Port. . Despite these challenges, however, the port’s financial performance has remained impressively resilient.
“During this difficult year, the port played its role, as a designated service for key workers, facilitating vital trade flows to and from the Northwest region.
“As this year progressed, the Commissioners successfully ensured that our core business remained fully operational while, at the same time, continuity plans were quickly implemented as required.”
Port General Manager Brian McGrath is said to have said: “Although this has been a difficult year for the Port, we are proud of our collective resilience and strength, and I want to thank every member of staff and the team at direction for their personal contributions. .
“I particularly appreciate the unwavering support of the Chairman of the Board of Directors and the auditors during this time of crisis.
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