Belfast Telegraph

Sunday 21 September 2014

Company Snapshot: Belfast Harbour Commissioners

The Port of Belfast and the large land estate falling within its borders are managed by the Belfast Harbour Commissioners.

Their annual report reflects the changes in the level of trade, the considerable investment in improving the assets of the port, and the impact of property transactions on the balance sheet.

Overall financial turnover improved by 5% to reach £32.7m, trade fell by 5% reflecting the impact of the recession. The Commission does not list separate revenue streams but any fall in port revenue has been offset by improved property rentals or gains from property transactions.

The relatively high ratio of operating and pre-tax profit to turnover, together with accumulated investment funds, means that the organisation was well placed to finance its capital development programme which in 2008 cost £29.7m.

In recent years, notable capital projects included the new terminal for Stena Line, a large new bulk store, and the refurbished deep water wharf which can accommodate large cruise liners. The Commission is also partnered with Titanic Quarter Ltd in the promotion of the 185 acre Titanic Quarter site.

In 2008, the profit and loss account reflected a surplus on land transactions of £2.6m, down from over £5m the year before.

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Comment

More

Company Profiles

More

Help & Advice

More

People on the move

More