Member Article

Record profits for Port Of Tyne

The Port Of Tyne has announced a yearly turnover of £45.5m and will award its 450 workers a new bonus worth 2% of their wages.

With chairman Sir Ian Wrigglesworth and CEO Andrew Moffat at the helm, the Port has record results and a surge in container traffic has reportedly played a large part in the improved figures.

Andrew Moffat said: “The Port is an indicator of business and trade generally, and we have benefited from both the developments in the energy markets and car manufacturing, and from the organisation’s ability to identify and exploit new market opportunities.

“We have also made major investments in infrastructure to be able to secure new business opportunities. The huge contribution made by my management team and all employees of the Port has also been very significant in enhancing and improving the performance of the business.”

In 2010, the Port of Tyne became the UK’s No 1 car export port in the UK, and the 7th largest handling port in Europe, as a result of an increase of 48% in cars handled for Nissan, Höegh and VW at its three car terminals

This was posted in Bdaily's Members' News section by Ruth Mitchell .