Log exports lift profits

High levels of log exports have resulted in increased profit for Northland Port Corporation.
It has reported a 15.6 per cent rise in half year net profit to $2.1 million. Revenue for the six months to the end of December was up 15.3 per cent to $3.1 million, and an unchanged interim dividend of 2.5 cents per share was to be paid.
The company said its 50 per cent interest in port operator Northport accounted the majority of its operating earnings, with the group's improved earnings mainly due to an improved trading result by Northport, which continued to have high levels of log exports.