MIXED FORTUNES FOR DUBLIN PORT - Operating profit and turnover grew last year at Dublin Port, despite a decline in throughput and the number of ferry passengers.
The figures are included in the company's annual report, which was published this morning.
According to the report, operating profit went up by 24.5% from €21.6 million to almost €27 million in 2008, and turnover grew just slightly from €70.4 million to €70.6 million.
But a trading statement for the first six months of this year paints a different picture, as a sustained fall in throughput has led to lower operating profit and turnover.
Enda Connellan, Dublin Port Company's chief executive, says that the dividend his company pays to the State is up 22% and that its pension fund continues to exceed minimum standards.
The company has plans to fill in 52 acres at the port, and Mr Connellan says that the economic downturn cannot be allowed to stand in the way of long-term strategies. He says that the firm has increased its market share, despite the downturn.
With the unique view of what enters and exits the country, Mr Connellan says he expects trade to fall by between 16% and 18% before the end of 2009. He says that we export 80% of what we produce and therefore ports are vital to out economic health.
***
On the currency markets the euro is worth $1.4255 and £0.8639.
