Dublin Port records 4.2 pct growth in Q1

The semi-state Dublin Port Company on Tuesday published trade statistics for the first quarter of 2017, showing continued strong growth of 4.2 percent after last year's record throughput of 34.9 million gross tonnes.

The company saw a strong financial performance in 2016, during which turnover grew by 5.1 percent to 81.6 million euros (86.5 million U.S. dollars) and its earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 8.8 percent to 53.6 million euros. This followed a growth of 25 percent in the four years to 2016, with the high growth trend continuing into the first quarter of 2017.

Total throughput for the three months to the end of March was 8.7 million gross tonnes with 1,843 ship arrivals, equivalent to 20 ships each day. Both imports and exports grew strongly with imports ahead by 3.3 percent and exports even more strongly at 5.5 percent.

The largest parts of Dublin Port's business are Ro-Ro freight trailers and Lo-Lo containers.

"Growth at this level was the norm over decades before the economic crash after 2007," said Eamonn O'Reilly, the company's chief executive.

"What we are seeing in Dublin Port's volumes is entirely consistent with the strong recovery evident in the domestic economy in recent years," he said.

The company had a strong year in 2016 with turnover growth of 5.1 percent to 81.6 million euros and increased profit after tax of 7.3 percent to 39 million euros. (1 euro=1.06 U.S. dollars) Endit