OCEANIA

Firm financials favour Kiwi ports

13 years ago

Ports of Auckland has achieved a comparable 22.8% rise in profit before tax to NZ$44.4m and 5.1% increase in revenue to NZ$186.6m for the 2012-2013 financial year.

After-tax profit was NZ$38.9m compared with the previous year’s loss of NZ$11.9m (albeit that featured heavy impairment on land value). A focus on lifting revenue, improving processes and raising labour were credited as driving the result.

Port of Tauranga returned a 52% increase in underlying after-tax profit to a record NZ$77.2m and 7% rise in revenue to NZ$244.1m. Consolidation of callers during the year to an industry-leading 16 international container services boosted total throughput.

Lyttelton Port of Christchurch reported a 5.3% drop in annual earthquake-adjusted after-tax earnings to NZ$15.1m on a 5.8% rise in revenue to NZ$110.7m. However, the port achieved a 4.5% lift in throughput to a record 351,217 teu and developed a new long-term strategic plan.

South Port returned an 8.5% increase in after-tax profit to a record NZ$6.5m, with revenue lifting 12% to NZ$29.3m. The result was driven by recent diversification and growth in bulk cargoes as well as greater utilisation of the port’s two cold storage sites.