Records smashed at NZ’s Tauranga

Highlights of its financial result to June 30, 2017 included:

· Comparable 13.8% rise in container throughput to a record 1,085,987 teu

· First New Zealand port to exceed 1m teu in a year

· 10.3% increase in total trade to a record 22.2m tonnes

· 7.9% rise in net after-tax profit to NZ$83.4m

· 4.2% lift in annual revenue to NZ$255.9m

· 8% increase in exports to 14.2m tonnes and 13.7% rise in imports to 8m tonnes

· Completion of channel dredging to accommodate vessels of 7500-11,500 teu making it the only “big ship-capable” port in New Zealand

With such larger vessels now making Tauranga-only calls – and the port having capacity to expand its footprint – the business is forecasting its cargo and earnings growth to continue.

Meanwhile, South Port has repeated its annual record cargo throughput of 3.05m tonnes for the year and comparably increased its container volume by 12% to a new record of 35,100 teu. Revenue rose 0.5% to NZ$36.9m while net after-tax profit dipped to NZ$8.45m.

The result has been predicated on “robust demand from Southland’s import-export community”, with expectations main cargo flows show a “modest upside” next year contributing to ongoing stable earnings for the port.