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

 

Testing And Decontamination: New Standard On Meth Residue

Standards New Zealand has today released NZS 8510:2017 Testing and decontamination of methamphetamine-contaminated properties ... More>>

ALSO:

Mince, Etc: US Food Poisoning Lawyer At Conference

As New Zealand chefs, food experts, and MPI debate what constitutes a cooked beef burger, leading US food safety litigator Bill Marler, who made his name prosecuting the burger company responsible for a major E. coli outbreak, is keynote speaker at the Food Integrity Conference. More>>

ALSO:

Petya: New Ransomware Campaign Hits Worldwide

A new ransomware campaign known as Petya is affecting computer networks using Microsoft Windows. It was first seen affecting systems in the Ukraine, but is quickly spreading across other computer networks in Europe. More>>

ALSO:

Skodafone Goneski: Sky TV, Vodafone Drop $3.44 Billion Merger Plan

Sky Network Television and Vodafone New Zealand have terminated their merger agreement which aimed to create the country's largest telecommunications and media group, and have withdrawn an appeal against the Commerce Commission's rejection of the plan. More>>

Quake Insurance: Reforms To EQC Act Announced

· Increasing the monetary cap from $100,000 (plus GST) to $150,000 (plus GST) for EQC building cover.
· Clarifying EQC land cover is for natural disaster damage that directly affects the insured residence or access to it... More>>

ALSO: