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Harbour authority revenues up

The Greater Victoria Harbour Authority eked out a small profit in the last fiscal year thanks to a slight increase in commercial revenue, according to financial results released Friday.
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Norwegian Jewel slips by the Ogden Point Breakwater.

The Greater Victoria Harbour Authority eked out a small profit in the last fiscal year thanks to a slight increase in commercial revenue, according to financial results released Friday.

The non-profit organization recorded $89,000 in excess of revenue over expenses for the year ended March 31, a big swing from the $974,075 in profit it recorded last year.

The GVHA reported marina revenue was stable over the last year while there was an eight per cent increase in commercial revenue as a result of new property lease and license agreements.

Total revenue over the year was $11.1 million, up from $10.7 million in the 2013-14 fiscal year.

The GVHA pointed to a strong cruise-ship season in 2014, which included 203 ships with 467,000 passengers and 195,000 crew, as well as the completion of the revitalization of the CPR Steamship Terminal building as highlights of the year. It also claimed to have facilitated more than

$100 million in economic impact for the regional economy through its operations, particularly the cruise ship industry.

Last year, the GVHA invested nearly $1 million in the community through direct financial contributions to promote public access and enjoyment of its facilities.