OCEANIA

Profit boost for Ports of Auckland

8 years ago

Ports of Auckland has returned a comparable 8% increase in underlying profit after tax to NZ$59.2m and 9% rise in revenue to NZ$243.2m for the 2017-2018 financial year — albeit, incurring NZ$17.6m in items related to asset-valuation changes and impairments.

Napier Port has declared a 6% rise on the 4.75m tonnes of total cargo accommodated in 2016-2017 to surpass five million tonnes’ throughput for the first time (image is of the port in 2013) Photo: russellstreet/flickr/CC BY-SA 2.0

In a teaser to its annual result — due out in early December — Napier Port has declared a 6% rise on the 4.75m tonnes of total cargo accommodated in 2016-2017 to surpass five million tonnes’ throughput for the first time.

CentrePort Wellington illustrated a strong, ongoing rebound from the impacts of the November 14, 2016 Kaikoura earthquake with a 37% rise in underlying net profit after tax and before fair value and earthquake impact adjustments to NZ$11.8m and 16% increase in revenue to NZ$73.8m.

Port Marlborough achieved a 46% increase in net profit after tax to NZ$10.5m and 5% rise in revenue to NZ$28.7m.

Port Nelson delivered a 30% lift in net profit after tax to $NZ14m and 15% increase in revenue to NZ$67.2m.

Contrastingly, PrimePort Timaru returned both a 18% drop in net profit after tax to NZ$3m while also achieving an 18% rise in operating revenue to NZ$22.2m.