Thursday, August 21, 2014

SC Ports Authority earnings and container growth up for FY2014

South Carolina ports reported 2014 fiscal year-end operating earnings of $14.3 million, 20.7 percent more than the organization's financial plan projected, according to a statement from the South Carolina Ports Authority.

In July the SCPA announced 8 percent container growth for the fiscal year, noting it handled 1.7 million TEUs. The authority posted 9 percent increases for the previous fiscal year.

FY2014 was also marked by 17 percent growth in the SCPA's refrigerated cargo sector, the statement said.

"With the Port's aggressive capital plan for the next several years, a solid financial performance is essential," said SCPA Board Chairman Bill Stern. "The strong 2014 fiscal year revenues reported today reflect that the SCPA remains focused on the growth necessary for these important projects."

From July through June, the SCPA posted operating revenues of $164.1 million, a jump of nearly 17 percent year-over-year. FY2014 expenses totaled $149.9 million.


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