Ports of Auckland profits hold steady

Port operator books profit of $24.9 million in year to June, up 2.1% on the year prior.

Ports of Auckland have posted steady profits of $24.9 million for the year to June, up 2.1% on the year prior.

Chief executive Tony Gibson said in a statement the increase was driven by an 11.4% increase in motor vehicle volumes and a 36% increase in revenue from other commodities.

Revenue increased 7% to $177.2 million, and interest costs were pared back to $20.7 million from $21.2 million.

Profit for the year was down 37.3%, after the year prior recorded a $12.8 million gain from unusual items.

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