New Zealand profit growth for some ports
Recentfinancial year announcements have included the Port of Taurangadeclaring a comparable 7% rise in after-tax net profit to NZ$42.1m(US$27.6m) and 15% lift in revenue to NZ$148.8m (US$97.4m).
Nearby rival, Ports of Auckland, recorded a 67% drop in profit to NZ$21.1m (US$13.9m) and 4% increase in revenue to NZ$169.4m (US$110.9m). However, its previous year’s profit was boosted by rental income and then the sale of property to owner, Auckland Regional Holdings.
At the other end of the country, South Port announced a 12% rise in profit to NZ$2.51m (US$1.6m) and 6% lift in revenue to NZ$15.2m (US$10m).
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