Londonderry Port announces strong trading figures at AGM

Londonderry Port and Harbour Commissioners today announced that they have recorded their second highest level of profits ever, for the 2008 to 2009 year.  Chairman Mr Garvan O’Doherty says profits achieved for the last year were “a superb £1.1m, demonstrating our ability to generate revenue despite pressures on turnover growth.”

“This was achieved with greater operational efficiencies, investment in the core business, having a flexible multi-skilled workforce and expanding our customer base.”

“That the Port was able to record such strong profits in such a poor economic climate when the world is in the depths of economic recession reflects well on LPHC and its corporate structure.”  

Mr. O’Doherty told the LPHC annual general meeting today that following the formulation of a new five year corporate plan, the port implemented a dual strategy of expansion of marine services and improvements to its operating base. 

“The year 2008/9 has again been a year of significant expansion for the Port of Lisahally.  This has been assisted by relevant and important capital investment.  In particular, the Port has invested £2.2m for a new dredger which not only enables the Port to be self sufficient with regard to dredging but provides an opportunity to sell the marine services to other ports.  With our marine plant, the Port has some of the most up-to-date equipment held anywhere in the UK or Ireland”.

Mr O’Doherty said the ports new plans also included “an even greater focus on our conservancy duties putting the Port at the heart of the river and central to the needs of the community’. 

LPHC chief executive Mr Brian McGrath told the AGM they were particularly delighted that the port’s contribution to the local economy had now received external recognition in the form of an award for Supporting Economic Growth from Business in the Community NI – the organisation which works to promote Corporate Social Responsibility (CSR).  “The way we run our business allows us to contribute directly to the success of our customers’ businesses and the wider local economy,” said Mr McGrath. 

“In addition, our active CSR policies ensure that we contribute directly to the community.  This is part of who we are, with sustainability at the core of our CSR policy and practices.  LPHC must be self-sustainable as it does not receive government funds and must make sufficient returns to invest in the future, fund the port’s future growth and development, and safeguard this key part of the regional economy’s infrastructure for the benefit of all its stakeholders.”   

The timing of the announcement coincides with the re-launch of the Port’s web site. The web site has been rebranded and updated to include many new features. The new web site can be viewed at www.londonderryport.com

 

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