Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Ports of Auckland half-year profit up 70%

Ports of Auckland half-year profit up 70%

Record efficiency and volumes boost bottom line

HIGHLIGHTS

· Unaudited net profit after tax (NPAT) increased by 70% to $26.4m for the six months ended 31 December 2013, compared to $15.5m for the same period last year.

· An interim dividend of $20.94m will be paid to Auckland Council Investments Limited, for the benefit of ratepayers. This compares to a dividend of $11.56m for the same period last year.

· Port Operations EBIT was up 47.1% to $40.4m for the six months.

· Total container volumes for the six-month period were up 15.1% to 476,333 TEU, from 413,884 TEU in the same period last year.

· Full import containers were 19.9% higher and full exports 12.9% higher than the same period last year.

· Break-bulk (non-containerised, including vehicles) cargo volumes were up 41.9% to 2.87 million tonnes compared to 2.02 million tonnes in the same period last year.

· Car numbers were up 29.3% to 99,710 units, from 77,122 units in the same period last year.

· Port operating costs excluding depreciation were up 4.6% to $56.8m.

Ports of Auckland today announced a 70% increase in half-year profit, as rising productivity attracted more customers. Freight volumes lifted across the board, with a record number of containers handled in the six months to December 31.

Ports of Auckland CEO Tony Gibson said “Our productivity has gradually improved since we started restructuring in 2011. As we’ve delivered more of what our customers want, so they’ve rewarded us with more business. In effect the restructuring has enabled us to take advantage of an improving economy and Auckland’s continuing growth.”

Since 2011 Ports of Auckland has reorganised its management structure, improved container handling and its use of technology, and lifted labour utilisation, with 60 per cent of stevedores now working a flexible shift and roster system.

“Looking ahead, we are focussing on developing our leaders, increasing opportunities for women, particularly in operational and management roles, and investing in the training required to prepare our people for the future,” he added.

“2014 has started well, with volumes holding up across all areas, and as a result we recently announced new investment to support on-going growth: a larger new tug to handle bigger ships, and two new straddle carriers to cope with the rising container numbers.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Arming Police: Frontline Police To Routinely Carry Tasers

"In making the decision, the Police executive has considered almost five years worth of 'use of force' data… It consistently shows that the Taser is one of the least injury-causing tactical options available when compared with other options, with a subject injury rate of just over one per cent for all deployments." More>>

ALSO:

Gordon Campbell: On D-Day For Dairy At The TPP

While New Zealand may feel flattered at being called “the Saudi Arabia of milk” it would be more accurate to regard us as the suicide bombers of free trade. More>>

ALSO:

Leaked Letter: Severe Restrictions on State Owned Enterprises

Even an SOE that exists to fulfil a public function neglected by the market or which is a natural monopoly would nevertheless be forced to act "on the basis of commercial considerations" and would be prohibited from discriminating in favour of local businesses in purchases and sales. Foreign companies would be given standing to sue SOEs in domestic courts for perceived departures from the strictures of the TPP... More>>

ALSO:

"Gutted" Safety Bill: Time To Listen To Workplace Victims’ Families

Labour has listened to the families of whose loved ones have been killed at work and calls on other political parties to back its proposals to make workplaces safer and prevent unnecessary deaths on the job. More>>

ALSO:

Regulators: Govt To ‘Crowd-Source’ Regulatory Advice

A wide-ranging set of reforms is to be implemented to shake up the way New Zealand government agencies develop, write and implement regulations. More>>

ALSO:

Board Appointments: Some Minister Appoint Less The 3 In 10 Women

“It’s 2015 not 1915: Ministers who appoint less than 3 in 10 women to their boards must do better, they have no excuse but to do better,” said Dr Blue. More>>

Gordon Campbell: On The 1990s Retro Proposals For Our Health System

As we learned yesterday, the reviews propose that the democratically elected representation on DHBs should be reduced, such that community wishes will be able to be over-ridden by political appointees. In today’s revelations, the reviews also propose a return to the destructive competitive health model of the 1990s. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news