Port of Tauranga has today reported another record annual result.
Revenue rose 7 per cent from $227.2 million to $244.1 million. Underlying Group Net Profit After Tax1 rose 5per cent from $73.5 million to a new record of $77.2 million, reflecting cost containment and strong growth in containers and bulkcargo shipped across Port of Tauranga's wharves.
Reported net profit after tax rose 52 per cent to $112.1 million from $73.5 million a year earlier, lifted by strong earnings from associate companies and a $38.2 million profit on the sale of our 50 per cent share in freight logistics company C3 Limited.
Port of Tauranga chairman John Parker said Port of Tauranga had delivered another stand-out annual result.
"Over the last two decades we have grown to become New Zealand's largest port by marshalling freight from an ever-widening area and delivering world-class productivity in our freighthandling operations,'' he said.
"Our recently announced agreements to acquire a 50 per cent stake in PrimePort Timaru and an additional 6.8 hectares of land next to MetroPort, our highly-successful inland port in Auckland's industrial precinct, will put in place key building blocks for this growth to continue.''
