Offshore wind boosts Port of Blyth results

Posted on 23 April 2024

Offshore wind boosts Port of Blyth results
Group recorded increased turnover, operating profit and profit before tax in 2023

The Port of Blyth has reported a record financial performance for the third consecutive year at its recent Annual Public Meeting.

The port group’s 2023 turnover grew to £31.5m (£30m in 2022) which translated into record profitability, with operating profit and profit before tax increasing to £3.9m (£3.8m in 2022) and £3.6m (£3.3m in 2022) respectively.

In 2023, offshore wind helped ensure the strong results.

During the year the Port of Blyth hosted mobilising activity for two offshore wind farms and provided “significant vessel and onshore handling activity”.

Other offshore energy activities ranged from the handling of specialist subsea equipment, heavy project lifts and support for the decommissioning sector. Blyth’s Port Training Services (PTS) had a successful year, offering training in heavy industry, offshore renewables, and the port sector.

Martin 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.”

Chair of the Board of Commissioners, 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."

Source: reNews (renews.biz/92711/offshore-wind-boosts-port-of-blyth-results)

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