Northland Port Corporation (NPC) has reported a tax-paid profit of $1.829 million in the six months to December 31, up from $1.794 million in the same period last year.NPC is paying a fully imputed dividend of 2.5c per share on March 5, unchanged from las
Northland Port Corporation (NPC) has reported a tax-paid profit of $1.829 million in the six months to December 31, up from $1.794 million in the same period last year.
NPC is paying a fully imputed dividend of 2.5c per share on March 5, unchanged from last year. The company is 72.3% owned by Northland Regional Council.
NPC owns 50% of Northport, which operates the Marsden Point port, and owns 50% of Northland Stevedoring Services and 50% of North Port Coolstores.
Cargo volumes were ahead of budget and are expected to remain ahead for the second six months of the year.
Chairman Geoff Vazey said improved trading by Northport was offset by a reduction in interest income from the disposal of the shareholding in Marsden Cove during the previous period.
NPC said discussions with a number of interested parties regarding the leasing of industrial land holdings may be concluded during the second half of the year.
"The directors are currently reviewing the land development policy and are exploring ways of promoting the port facilities, which will in turn lead to an improvement in rental income."
