Company reports tenfold increase
Manx-based businessman John Whittaker has seen the profits of Peel Ports rise tenfold in the last year.
The company, which owns the ports of Liverpool and Heysham as well as Liverpool Airport and the Manchester Ship Canal, has reported pre-tax profits of £40.6 million in the year ending in March 2015.
That compares to £3.9m the previous year.
Peel also reported a fall in turnover from £623.7 million to £616.1 million, which the firm blamed on euro exchange rate fluctuations in its shipping services arm.
But in its filings with the UK’s Companies House, the firm says cargo passing through its ports rose by 2.6 per cent, and was largely responsible for the growth in profits.