Belfast Telegraph

Belfast Harbour posts record turnover and profits for the year

By Margaret Canning

Belfast Harbour has reported another year of record turnover, increasing to £54.3m, up 3.4%.

Profits before tax at the business were up 2.3% to £29.9m, during 2015.

And a spokesman added that the company had “£100m committed to new capital projects either already underway or due to start in six months”.

It is Northern Ireland’s main gateway for importing and exporting, and also handles cruise ships and cargo ships as well as owning and operating the entire harbour estate.

The report also contained details of infrastructure projects completed during the financial year totaling £18m – up almost 40% on the previous year – and new projects totaling £100m which are either underway or due to commence within the next six months.

Major projects include the City Quays office developments. City Quays 1 has already been built and is home to international law firm Baker & McKenzie. And international group Marriott is set to take on the new City Quays hotel project in Belfast with its AC Hotels brand.

The first City Quays 1 building now plays host to a range of big-name firms.

That includes one of the world's biggest law firms.

At the beginning of the year, Cayan, which was formerly called Merchant Warehouse, revealed it was taking up two floors of the City Quays 1 building.

“This has been an excellent trading year for Belfast Harbour with 23 million tonnes of cargo being handled by the Port during 2015. We’re also pleased to report on the completion and progress of a number of ambitious investments which are driving the ongoing regeneration of Belfast Harbour Estate.

Belfast Harbour's chairman, Dr David Dobbin, said:

"Our role is to continue to manage, maintain and develop the resources of the Harbour, and optimize outcomes for our customers and the wider regional economy. All of our earnings are re-invested in projects such as improved container and quayside handling facilities, dockside cranes or the award-winning City Quays grade A office development.

"Work is also well underway on our new film studios and we hope to announce a contractor and brand operator for a new hotel at City Quays within the coming weeks.

"These investments are resulting in new jobs and improved regional competitiveness. Belfast Harbour is committed to helping the Northern Ireland economy grow and prosper."

Belfast Telegraph Digital

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