Belledune, NB – Harry H. Williamson, Chairman of the Board of Directors of the Belledune Port Authority (BPA), released the 2010 Financial Results and Annual Report today at the BPA’s eleventh Annual General Public Meeting at the Belledune Recreation and Cultural Centre.
“It is with great pride that I am able to report that the Port is celebrating another successful year. Our adherence to our strategic plan has helped us navigate through rough financial currents with a minimum of inconvenience.
It is noteworthy that this was all accomplished during a year when the port was undergoing a massive retrofit and expansion to our infrastructure. As at the end of fiscal 2010, our asset value is twenty million dollars more than what it was six years ago while our overall debt level has remained basically the same.
With our new Roll–On/Roll- Off Terminal and expanded “lay- down areas” and improved facilities at the Port and with our new Modular Fabrication Complex we are now positioned to attract new customers and increase our revenues even more and marketing these facilities will be our primary goal on a go forward basis.
The BPA President & CEO, Rayburn Doucett stated that: “BPA launched the year with a slate full of infrastructure improvements, new initiatives and closed with significant growth. And, once again, the Port has met and exceeded its financial targets with net profits of $2.7M, and with the Port’s vitals all remaining robust we saw total cargo tonnage of 2.149M tonnes handled and 118 vessels calling at the Port.
There is no doubt that the port’s success and profitability has relied on unwavering commitment to responsible practices, teamwork, solid planning and a genuine interest in offering superior services at competitive prices. I am especially appreciative of the support of our dedicated staff and Board of Directors, our government and business partners and our expert stevedoring services as we continue to strive to achieve a common goal of growing the economy and bridging the regional divide which is imperative for the betterment of the northern region”
Our net income for the 2010 fiscal year was $2,710,130. The exceptional financial position the BPA continues to maintain reflects the continued efforts of the Board of Directors, management and staff.
For more information, please contact:
President & CEO
Belledune Port Authority