Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

CentrePort achieves mid-year profit

CentrePort achieves mid-year profit


CentrePort, the country’s third largest port, has posted a Net Profit after Tax of $5.1m for the six months to December 2012, amid tough trading conditions.

Though the figure was six per cent lower than the corresponding period last year, Chairman Warren Larsen said the company was satisfied with the result after accounting for the impact of seismic repair works and substantially increased insurance costs. He also noted the influence of the timing of cruise trade, which will result in increased revenue in the second half of the year.

“We’re pleased with ongoing growth in core activities such as freight and tourism and the port’s continued high productivity rate,” Mr Larsen said.

Chief Executive Blair O’Keeffe said break-bulk trade was up 20 per cent on the corresponding period last year, thanks especially to a strong uplift in log exports.

Container trade was stable – just 2 per cent lower than the same period last year, while vehicle trade was down 11 per cent.

“Cruise ship calls are set to reach a record 91 in the 12 months to June, bringing 225,000 visitors to the Capital – a 25 per cent increase on the previous year,” Mr O’Keeffe said.

As expected CentrePort’s Commercial Property result, like many other Wellington commercial property owners, was down due to the impact of seismic repair work.

The port’s productivity remained industry leading with an average crane rate of 30.8 per hour (on exchanges over 300) for the six months, placing CentrePort in the upper quartile performance level for Australasia.

ends


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO: