Belfast Harbour reports record cruise ship visits and rising turnover
Belfast Harbour has reported record cruise ship visits along with rising turnover and profits for 2023 despite a “challenging” global environment.
It reported turnover of ￡82.9m for 2023, up 7% on the year before, while pre-tax profit of ￡36.7m was also up 7% from 2022.
The harbour, a trust port funded by its own profits and not public funds, said capital projects expenditure was at record levels with investment of ￡65m.
Projects include a temperature-controlled warehousing facility to be occupied by logistics firm Manfreight, the expansion of Belfast Harbour’s film studios, and social housing. It’s part of a decade of spending, totalling ￡374m, by the harbour.
The sales of The Quays Shopping Centre in Newry and a former Randox site were the bright spots in a quiet first half of the year for commercial property deals, a report from Lambert Smith Hampton has said.
The report on investment in Northern Ireland found that last quarter saw ￡30.5m of investment, which is 55% below the five-year quarterly average.
By contrast, a separate report shows hotels enjoyed high levels of occupancy across NI in 2023, and levels of income per room have reached all-time highs.
A Belfast bar could be turned into a luxury hotel bringing up to 150 new jobs as part of a ￡50m development of the site.
The Tipsy Bird on Ann Street is part of the location of the proposed project from the hospitality company Glendola Leisure Group and Carlton Hotel Collection.
The planned hotel would also incorporate the courtyard behind the Tipsy Bird, along with the vacant Jamison & Green Building, the former site of a hardware store.
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Medical testing firm Randox has reported a loss of ￡38m following pre-tax profits of ￡189.8m last year but says the results were "entirely expected" following a strong performance during peak demand for its Covid-19 testing.
The firm, founded by Dr Peter FitzGerald, employs some 2,100 staff, with around a quarter of those workers scientists and engineers.
The report says the firm’s core business – which includes quality control and reagents operations – remains profitable.
“Randox will also benefit from a wide range of R&D products being released to the market which were put on hold during the pandemic,” it added.
“This is entirely expected and, operating with a strong balance sheet, is a position within which the directors are entirely comfortable.” - Randox
Robin Mercer of Hillmount Garden Centre talks to James McNaney about coping with disappointing weather, the history of the business - set up by his grandfather in 1940 - and his interesting hot air balloon hobby.
The second year of less favourable weather has meant not many of us are feeling summery, which is having an impact on sales at businesses like garden centres.
“The rain started last June and hasn’t stopped. In our business, we always say we need three good days in a row. On the third day of good weather, people are ready to buy new plants.” - Robin Mercer
With garden furniture and barbecues not selling too well, Robin says he feels like he needs a “crystal ball” to predict what stock to order for next year. There is a need to get orders in early, as supply chain problems have been frequent.
“We’re checking the weather twice a day, and usually you wish you hadn’t done it afterwards,” he adds.
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