Company boosted by exceptional profit on asset sale and opening of new container terminal
Eoin McGettigan, chief executive of the Port of Cork Company with Minister for Finance Michael McGrath and Eamon Ryan, Minister for Environment, Climate and Communications and Minister for Transport at Cork Container Terminal. Photograph: Cathal NoonanPretax profits at the Port of Cork Company jumped by a fifth last year to €13.28 million as ti opened a new container terminal.
Profits were further boosted by a €4.93 million profit arising from the disposal of a fixed asset, according to consolidated financial statements which show that revenues rose by 21.5 per cent to €48.41 million as the business recovered in 2022 from the Covid-19 business impact. Operating profits at the company increased by 13 per cent last year to €9.15 million.
On the company’s port €89 million redevelopment at Ringaskiddy, the directors state that container vessels were facilitated at Cork Container Terminal in April 2022. “The delivery of this redevelopment project will ensure that for the next five decades and more, ships will arrive from distant ports to collect and discharge their cargos at this amazing facility.”
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