Teesport operators Brookfield Ports says pre-tax profits have increased to £6.3m across its UK operations.

The group, which also runs sites around the country, saw pre-tax profits rise from £4.8m to £6.3m in 2014.

More than 90% of the company’s profit is derived in the North-east, which has seen growing cargo volumes, group chief financial officer Dermot Russell has said.

Revenue across the group also increased from £127.8m to £133.43m during the year, on the back of investment activity in its Teesport site — particularly Container Terminal 2.

The group expects Teesport to move up in the rankings of the top five UK ports by tonnage volumes in a forthcoming Department for Transport report.

Unitised volumes – the cargo handled by the group’s ferry, container and rail terminals – increased by 13% at Teesport, well above UK market growth of 5.5%.

Source: GazetteLive