Port of London Authority reports return to profit

The Port of London Authority (PLA) has reported a return to profit following an increase in port trade of 6 per cent over the previous year. The total volume of port trade in 2001 was 50.7 million tonnes.

Announcing the PLA’s Annual Report & Accounts for 2001, Chairman Simon Sherrard said:

"I am pleased to be able to report that in 2001 we achieved an operating profit of £0.4 million, as compared to an operating loss of £2.3 million the previous year. Our overall pre tax surplus was £1.15 million, as compared to a deficit of £1.6 million in 2000. This was achieved partly through cost reductions in all areas of the organisation and assistance from the increased trade volumes.

"The volume of port trade returned to over 50 million tonnes. This performance reflects the underlying strength of the port, arising from the diversity of our cargoes and our location in the south-east of England with its large population and high-level of economic activity."

1. Copies of the PLA ‘Annual Report & Accounts 2001’ are available from: The Secretary, PLA, Bakers Hall, 7 Harp Lane, London EC3R 6LB, price £7. The document can also be viewed online.
2. Copies for the media are available from Martin Garside, Port Promotion, PLA, Bakers Hall, 7 Harp Lane, London EC3R 6LB (Tel: 020 7743 7915. Fax: 020 7743 7998. Email: martin.garside@pla.co.uk)
3. The PLA is the port authority for the 93 miles of the tidal River Thames from the Estuary to Teddington. It provides pilotage and navigational services for ships using the Port of London, including the maintenance of shipping channels. The PLA is actively engaged in the promotion of the Port of London, one of the UK’s top three ports. The port comprises over 80 independently owned terminals and port facilities, which handle a very wide range of cargoes.