Sun, 20 Apr
° °
  • Firstline - TV3 New Zealand

    Firstline

    Weekdays 6am

  • 3 News - TV3 New Zealand

    3 News

    Nightly 6PM

  • Campbell Live - TV3 New Zealand

    Campbell Live

    Weekdays 7.00pm

  • Three 60 - TV3 New Zealand

    Three 60

    Sundays 9.30am

  • 3rd Degree - TV3 New Zealand

    3rd Degree

    WEDNESDAYS 8.30PM

  • The Paul Henry Show - TV3 New Zealand

    The Paul Henry Show

    Weekdays 10.30pm

  • The Nation - TV3 New Zealand

    The Nation

    Sat 9:30am / Sun 10am

Northland Port profit rises 15 percent

Tuesday 26 Feb 2013 2:26p.m.

Northland Port profit rises 15 percent

Northland Port, the investment company that owns half of Northport, has reported a 15 percent increase in first-half profit on increased export log volumes across the wharves at Marsden Point.

Profit rose to $3.67 million in the six months ended December 31, from $3.2m a year earlier. Operating revenue rose 18 percent to $4.92m.

Northland Port is 54 percent owned by Northland Regional Council and about 20 percent by Ports of Auckland.

It owns 50 percent of Northport, with the remainder held by Port of Tauranga.

Northland Port's other interests include stevedoring, cool stores and 185 hectares of land at Marsden Point.

Total cargo volumes through the port rose 11 percent to 1.54m tonnes, of which logs accounted for 1.14m tonnes.

Rising volumes across the wharves are putting pressure on existing storage capacity, prompting the port to accelerate plans to pave a further 3ha of land.

Chairman Sir John Goulter said annual cargo throughput at Northport is forecast to rise above 3m tonnes from 2.7m tonnes a year earlier.

"Assuming this projected volume is reached, a further uplift in the overall profitability of the group can reasonably be expected," Sir John said.

The company will pay a first-half dividend of 4.5 cents, up from 3.5 cents a year earlier.

NZN

 
comments powered by Disqus