Business chiefs of the Port of Workington have reported a “very good year” in tough trading conditions.

Bosses have revealed that the county council-owned port hit all its targets, with profits of £362,000 and several major transport projects under its belt.

The positive news emerged as port manager Jeremy Lihou presented an update on the financial position to the authority’s harbour board.

The organisation has generated more cash through its business activities than expected, leaving it with a surplus.

Mr Lihou said: “Our revenue target was £1.8m and we were just shy of that, so we have achieved the revenue target.

“In terms of expenditure, the outturn was £1.4m so we underspent by £200,000 against a target of £1.6m.

“Part of the reason for that was the fact we deferred the dredging campaign with the decent weather we had over winter.

"And that, in turn, posted a trading surplus of £362,000 against a target of £160,000, so we exceeded our target surplus.

“That essentially means that the additional surplus above the target goes into the Port’s earmarked reserve for use in the coming financial year if needed.

“All in all, we have had a really good and successful year.”

The meeting also heard that all the port’s performance indicators were green, which means all targets have been hit or exceeded.

Among the highlights of the last financial year raised at the meeting was the port’s involvement in the handling and distribution of water pipes for United Utilities’ Thirlmere Links Project.

Port staff received more than 10 shipments over 18 months, successfully delivering all the pipes.

Mr Lihou added: “This just shows how the port can support these major infrastructure projects that are going on in Cumbria.”

Board members Councillor Keith Little and Coun Mike Heaslip congratulated the port staff on a successful year.

But Coun Heaslip also urged caution, adding: “Don’t think ‘oh great’ we have got £300,000 because one dredging campaign could just about wipe that out.”

The meeting heard that dredgers are booked in for May/June, which ties in with other campaigns in the Irish Sea and means the work can be done more cheaply.

The Port of Workington is wholly owned and operated by Cumbria County Council, which is the statutory harbour authority, and is an independent municipal port.