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

 

Insurance: EQC To Double Payout, Scrap Contents Insurance

New Zealand’s Earthquake Commission may double its payout amount, scrap contents insurance and process claims through private insurers under the government’s long-running review of funding and management of the state-run earthquake insurer. More>>

ALSO:

Gordon Campbell: On Tiwai Point (And Saying “No” In Greece)

Its hard to see how Rio Tinto’s one month delay in announcing its intentions about the Tiwai Point aluminium smelter is a good sign for (a) the jobs of the workers affected or (b) for the New Zealand taxpayer. More>>

ALSO:

Half Empty: Dairy Product Prices Extend Slide To Six-Year Low

Dairy product prices continued their slide, paced by whole milk power, in the latest GlobalDairyTrade auction, weakening to the lowest level in six years. More>>

ALSO:

Copper Broadband: Regulator Set To Keep Chorus Pricing Largely Unchanged

The Commerce Commission looks likely to settle on a price close to its original decision on what telecommunications network operator Chorus can charge its customers, though it probably won’t backdate any update. More>>

ALSO:

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news