Port of Blyth reports positive financial results despite global pandemic
10 May 2021
The Port of Blyth has announced a robust set of financial and operational performance figures for 2020 at its Annual Public Meeting.
Overall Group turnover grew to £22m, the second highest total in the Port’s history, whilst adjusted operating profit almost doubled to £1.51 million against 2019.
The major driver for these results was the main port operating business, although wholly owned forwarding and logistics subsidiary, Transped, also contributed £0.25m to the profitable year.
Although overall volume of cargo handled in the year actually reduced to 0.65 million tonnes, given the Port’s increasing focus on servicing offshore energy vessels rather than handling more traditional cargo, port chiefs have highlighted the 32% increase of berth utilisation during 2020 as a more useful performance statistic and another sign of positive growth.
Operational performance has also been a keen focus as container handling at the Port’s South Harbour terminal grew by 8% on 2019, while the Port again recorded safety figures that compared favourably with the port sector nationally and customer satisfaction rates reached a five year high.
Martin Lawlor, Chief Executive of Port of Blyth, said: "Given the unprecedented challenges of 2020, it is extremely satisfying to announce these positive financial results. A critical factor in this success has been the commitment of our "key workers” who performed brilliantly throughout the year, helping to keep ships trading and supermarkets stocked.”
Regarded as one of the UK’s leading offshore energy bases, Port of Blyth is home to some of the world’s leading offshore energy companies and regularly hosts high profile projects connected to North Sea oil, gas and renewables operations.
Held online due to continued COVID-19 restrictions, the Port’s Annual Public Meeting was held in April at which the financial results were announced. This important event forms a key part of the Port of Blyth’s commitment to its stakeholders as a leading UK statutory Trust Port.