New Zealand ports report solid financials

PoAL reported a comparable 9.1% increase in revenue to NZ$120.6m and flat net after-tax profit of NZ$29.2m, with container throughput rising 3%, total general cargo volume lifting 4.7%, vehicle throughput increasing 2.1% and cruise ship calls rising 50%.

PoAL chief executive Tony Gibson commented: “I am pleased with our result as it builds on the work we have done since 2011 to modernise the port and make our operations more efficient.”

Meanwhile, Port of Tauranga achieved a 12.8% rise in revenue to NZ$141.4m and 12.6% increase in net after-tax to NZ$47.1m, with container throughput lifting 15.8%, total trade rising 13.4%, transhipment volumes increasing 47.6% and log exports lifting 12.5%.

Port of Tauranga chairperson David Pilkington said the “impressive results” demonstrate the continued consolidation of a ‘hub and spoke’ port network in New Zealand.

Port Taranaki reported a 14% rise in total revenue to $24.3m and 34% increase in net after-tax profit to $6.1m, with total trade lifting 6%, dry bulk cargoes rising 53%, log exports increasing 63% and vessel calls rising 19%.

However, Port Taranaki chairperson Peter Dryden said the longer-term outlook was one of “more challenging conditions”, with commodity prices and the weather influencing activity.

CentrePort recorded a 1.2% dip in revenue to NZ$34m and NZ$4.9m net after-tax profit compared to the NZ$35.7m earthquake-impacted loss reported in the corresponding period.

Highlights included a faster-than-expected recovery in container trade, breakbulk revenues increasing 4% ahead of budget, log volumes rising 5% and a strong cruise ship season.

Acting CentrePort chief executive Anthony Delaney said it was pleasing to see the business return to pre-earthquake levels, “while working in a changing and demanding environment”.