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Port of Blyth announces record financial results

Posted on 26 April 2022

Port of Blyth announces record financial results

The Port of Blyth has announced record financial and operational performance figures for 2021 at its recent Annual Public Meeting.  

Overall Group turnover grew to £25.5million, the highest total in the Port’s 140-year history and up 15% on the previous year, whilst group operating profit grew by 64% to £2.1million.

The major driver for these results was the main port operating business, which landed two major offshore wind related contracts in 2021 and continued to be regarded as one of the UK’s leading offshore energy support bases. Wholly owned forwarding and logistics subsidiary, Transped, also contributed a record £0.5m profit to the year.

While overall volume of cargo handled in the year increased to 0.7 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 the year as a more useful performance statistic and another sign of significant growth.

Operational performance has also been a keen focus as container handling at the Port’s South Harbour terminal grew to the highest figure since Transped was established in 1997, while the commitment of the Port’s “key workers” ensured that millions of key consumer goods made it quickly from the container service to the supermarket shelf.

The Port maintained an outstanding safety record in 2021, with not a single lost time incident occurring throughout the year as it continues to lead the port sector nationally in relation to Health & Safety. 

Martin Lawlor, Chief Executive of Port of Blyth, said: “To achieve record turnover in a year that contained both covid and numerous Brexit related challenges is a huge accomplishment. Our offshore energy/renewables clients consistently reference our wealth of experience, high service levels and a service safety-first culture as reasons for selecting Blyth and long may that continue.”

Chair of the Board of Commissioners, Geoff Hodgson, added: “Such positive financial results are testament to both the scale of the projects that the Port is attracting to Blyth and the commitment of a superb team. With its key role in the renewables sector only set to grow, the future of the Port of Blyth is looking hugely positive.”

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 in a hybrid format for the first time – both in-person for the first time in two years due to covid restrictions and online, the Port’s performance was reported at its Annual Public Meeting recently. This important event forms a key part of the Port of Blyth’s commitment to its stakeholders as a leading UK statutory Trust Port.