Lyttelton Port, Christchurch's ocean hub, boosted annual earnings 40 per cent as it
benefited from a growing volume of imports for the city's rebuilding and increasing log exports.
Stripping out insurance flows and writedowns associated with Canterbury's spate of earthquakes, profit rose to $17 million in the 12 months ended
June 30, from $12.1 million a year earlier, the Lyttelton-based company said.
Revenue climbed 14 per cent to $104.5 million and earnings before interest, tax, depreciation and amortisation gained 4.4 per cent to $33.7 million.
Including the quake impacts, net profit fell to $17.2 million, or 16.8c a share, from $24.1 million, or 23.6c, a year earlier.
"The port handled record volumes through the container terminal, plus other cargoes continued to grow throughout the region during this new seismic era," chief executive Peter Davie said. "The port remains a critical component of Canterbury's strategic infrastructure and is essential in the rebuild of the Canterbury region."
