The South Carolina Ports Authority reported its 2014 fiscal year operating earnings increased 20.7% to $14.3 million.
The agency’s operating revenue increased 17% to $164.1 million, with expenses of $149.9 million, from July through June.
“With the port’s aggressive capital plan for the next several years, a solid financial performance is essential,” SCPA board Chairman Bill Stern said in a statement.
“The strong 2014 fiscal-year revenues reported [Aug. 20] reflect that the SCPA remains focused on the growth necessary for these important projects,” Stern said.
Volume in July, the first month of the new fiscal year, increased 13% to 153,916 20-foot equivalent units, exceeding the ports’ projections by 11%.
Last month, the agency reported container growth increased 8% in its fiscal year, 2% more than projected.
For the total fiscal year, the port authority moved 1.7 million 20-foot equivalent units.