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

 

Auckland Port Study: Port To Ship Out – No Departure Date

Interest groups in Auckland and its waterfront chose a group of representatives to determine the future of the port. Their consensus is that the Port is going to have to move but not before a credible location is confirmed... More>>

ALSO:

Tax: GST Threshold For Online Purchases Won't Lower Before 2018

The government wants to lower the threshold on online purchases which qualify for GST from mid-2018, but says more work is needed and there will be no change without public consultation. More>>

ALSO:

North Canterbury: Government Extends Drought Classification

The government has extended a drought classification for the eastern South Island until the end of the year, meaning the area will have officially been in drought for almost two years, the longest period for such a category. More>>

ALSO:

Negotiations Fail: Christchurch Convention Centre Build To Proceed Without PCNZ

After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original schedule. More>>

ALSO:

Other Centres' Convention Centres:

Ruataniwha: Greenpeace Launches Legal Challenge Against $1b Dam Plan

Greenpeace NZ is launching a legal challenge against a controversial plan to build a dam that’s set to cost close to $1 billion and will pollute a region’s rivers. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news