Port of Tauranga said its underlying net profit rose by 5 per
cent to a record $77.2 million in the June year, reflecting
costs control and strong growth in its container and bulk
The company's bottom line net profit rose by 52 per cent to
$112.1m from $73.5m a year earlier, lifted by strong earnings
from associate companies and a $38.2m profit on the sale of
its half share in freight logistics company, C3 Ltd.
Port of Tauranga announced a final dividend of 26c per share,
raising its full-year dividend payout by 18 per cent to 46c
Total freight transported across the port grew by 3 per cent
to 19.1 million tonnes, with growth in exports - particularly
in dairy products and logs - more than offsetting a decline
in import tonnages.
Port of Tauranga also consolidated its position as the
country s largest container port.
Container volumes grew by 7 per cent to 848,384 TEU (twenty
foot equivalent units) even though the previous year s
figures included traffic diverted to Port of Tauranga during
the Ports of Auckland industrial action. Shares in Port of
Tauranga last traded at $14,70, unchanged from Wednesday's