Port of Tauranga reported strong rises in forestry-related exports and in imports of grain and dairy food supplements as it lifted full year underlying earnings after tax 9.3% to $49.4 million.Revenue for the year to June rose 3.1% from the year before to
Port of Tauranga reported strong rises in forestry-related exports and in imports of grain and dairy food supplements as it lifted full year underlying earnings after tax 9.3% to $49.4 million.
Revenue for the year to June rose 3.1% from the year before to $148 million, following a decision to defer any rise in tariffs during the year, the company said today.
When an unusual item of $10.5m due to a significant tax law change was included, along with a $2.35m impairment to asset values, bottom line net profit was $38m, compared to $45.2m a year earlier.
Total trade for the year was up 2.4% to 13.75m tonnes, after edging down 0.5% the year before. Exports rose more than 8% to 9.19m tonnes.
Forestry-related exports were up 19% to 6.04m tonnes, while grain and dairy food supplement imports lifted 27% to 849,000 tonnes, the company said.
Container volumes were down 6.5%, mainly as a result of rationalisation of services through shipping line mergers.
Port of Tauranga shares were down 2c in early trading to $6.71.
