Boost in NZ interim results
Lyttelton Port of Christchurch (LPC) has delivered a comparable 1.3% increase in earnings before interest, taxation, depreciation and amortization to NZ$15.9m for the six months to December 31, 2014 (an after-tax figure has not been disclosed).
Overall cargo volume rose 3%, with container throughput lifting 3% to 191,359 teu and respective rises of 23.5%, 13.5%, 12.4% and 2.6% observed in vehicle, grain, fertiliser and log cargoes. This growth offset the loss of Fonterra dairy exports to PrimePort Timaru as well as a predicted downturn in coal exports.
Port Otago achieved a 27% rise in port operations and property after-tax profit to NZ$8.2m. When including the one-off NZ$13.8m return from the sale of shares in LPC, its after-tax profit totalled NZ$22m.
Container throughput comparably dipped 4% to 77,400 teu but conventional cargo volume rose 8% to 727,000 tonnes with particular increases being noted in log exports as well as cement and fertiliser imports. Revenue lifted 13% to NZ$41.5m.
A record interim after-tax profit of NZ$3.3m was returned by South Port, representing a 23% increase on the comparable period.
Cargo throughput rose 7% to 1.48m tonnes, based on consistent log export and petroleum import volumes along with marginally-higher New Zealand Aluminium Smelters import activity.
