Chairman Alasdair MacLeod said significant infrastructural growth was necessary due to increasing volumes, past difficulties handling seasonal peaks, the arrival of bigger ships and constrained space.
Debt to September was $84 million and total assets rose from $275.1 million to $301.5 million.
Staffing levels went from 210 to 243 and 474 days achieved without a lost-time injury.
Vessels calling went from 636 to 653.
Overall cargo volumes were flat at 4.1 million tonnes. Non-containerised volume fell from 2.4 million tonnes to 2.2 million tonnes, attributed to falling Chinese log demand and increased containerisation.
Container volumes rose from 220,048 container units last year to 256,438, a 16.5 per cent increase.
"That is significant growth at a time when we have been losing dairy volume to Tauranga as a consequence of a rearrangement of the supply chain by Fonterra and Kotahi [Logistics]," Mr Cowie said.
In the year ahead there was an expected increase in apple and packaged water exports, countering further loss of dairy.
Cruise vessels increased from 47 to 56. In the current year 45 were predicted and 69 were booked for 2017/2018.
With bookings through to 2020 and large vessels regularly accommodated, the long-term future for Napier as a cruise destination looked positive, Mr Cowie said.
While the cruise industry was welcome the port's priority was moving freight. The port was geared to cope with late summer/autumn peaks driven by the horticultural industry.
"If we can actually fill the troughs then our future is even brighter," he said.
