The port’s operating profit in the four months since the beginning of fiscal 2015 is $4.6 million, compared with an operating loss of $4.8 million in the same period of fiscal 2014. The October result is $1.8 million better than the result for the October of the prior year. Moreover, the port has generated an operating profit and in seven of the last eight months in calendar 2014.
“When comparing the fiscal-year-to-date performances, we are looking at a swing of $9 million, so we are continuing to find solid financial ground” said John F. Reinhart, CEO and executive director of the Virginia Port Authority.
“And while we have an improving financial picture, we are still not where we want to be in terms of delivery of service at VIG and NIT,” he said. “The challenge of congestion at our gates continues and impedes the ability for motor carriers to do their job with efficiency. At the gates, execution, consistency and adaptability is a primary focus.