Port of Blyth confirms third year of record profits in a row at its annual public meeting
and live on Freeview channel 276
An increased turnover of £31.5m resulted in a record £3.9m operating profit and £3.6m pre-tax profit for 2023.
The announcement at the port’s annual public meeting also revealed an overall reduction in carbon emissions generated from port activities of 26.4%. Port of Blyth is aiming to be carbon neutral by 2040.
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Hide AdMartin Lawlor, chief executive of Port of Blyth, said: "I am delighted to announce yet another record year, re-enforcing the port's status as one of the UK’s leading offshore energy bases.
“The hard work and commitment of our team has been instrumental in achieving this success, and I am proud to see the port thriving and growing year on year.”
Board of Commissioners chair Catherine Young added: "As I embark on my new role as chair, I am thrilled to oversee such positive performance for the third consecutive year.
“With a strong foundation and a clear vision for the future, I am confident that the port will continue to expand and prosper for the benefit of the regional economy and its communities.”
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Hide Ad2023 saw the port help to mobilise two of the world’s largest offshore wind farms, support a range of other offshore energy activities, decommission its largest oil and gas topsides and jackets yet, and remain a cargo hub.
The port’s logistics subsidiary Transped saw turnover fall to £10.9m but remained profitable and is expecting a stronger 2024 “with some operational issues now resolved.”
Blyth Harbour Commission training arm, Port Training Services, had a successful year, teaching 78 apprentices across the UK.
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