South Port has returned a comparable 13% rise in net after-tax profit to a record NZ$8.7m and 6% increase in revenue to a record NZ$36.7m during the 2015-2016 financial year.
The result also saw the port achieve a 7% lift in cargo throughput to a record 3.1m tonnes, with the largest gains made in logs, woodchips and dairy volumes.
South Port chairperson Rex Chapman says despite “uncertainty” during the year, the result was the fourth-consecutive improved return for the business.
“The company has benefited from a diversified exposure to the expanding southern regional economy and the pleasing result has been driven by higher bulk cargo tonnages,” he says.
Putting the port’s recent growth in context, South Port chief executive Mark O’Connor notes that during the first half of the previous decade its volume had remained steadfastly within a range of 2m to 2.1m tonnes.
Meanwhile, Ports of Auckland (PoAL) delivered a 33% rise in net after-tax profit to NZ$84m, 3% dip in revenue to NZ$211.1m and 6.7% fall in container throughput to 907,099 teu during the year.
Port of Tauranga returned a 2% dip in net after-tax profit to NZ$77.3m, 9% fall in operating income to NZ$245.5m and 12% rise in container volume to 954,006 teu.
