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


Port Nelson reports positive result

Port Nelson reports positive result

The region's two councils are better off by $3.4 million, thanks to this year's Port Nelson Limited dividend, announced yesterday (Friday Oct 28th) at the company's AGM.

Port Nelson Chairman Nick Patterson said the company profit, at $5.259 million, was down from the previous financial year, but was around 7% ahead of budget, on revenues of $27,716,000.

"We knew we faced several one-off expenses this year, such as upgrading our security system, preparing the Noise Variation and the refit of the tug WH Parr," he said. "In view of these costs the result is pleasing and reflects well on our management team."

The port once again reported a record cargo volume of 2,624,000 tonnes, just on 60,000 tonnes ahead of the previous 12 months. This figure was boosted by extra logs handled through the port as a result of windfall from a storm in the Moutere - Motueka area in late 2004, as well as higher bulk imports related to the cement industry.

Processed wood shipments were below expected levels for the 12 month period, as were the volumes of fish handled through the port. On the plus side, fruit exports were up, flowing through into increased container throughput.

Mr Patterson said the forward outlook for a drop off in volume growth through the port in the next 3-5 years would be a challenge.

"This region faces reduced exports for a range of reasons - and this will require the port to focus on achieving greater operational efficiencies throughout the organization," he said. "This will ensure our shareholders get the returns they expect from the company, and that we can continue to provide the infrastructure necessary to service the region's importers and exporters."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Reserve Bank: Policy Lessons From A Year Of Covid-19

The Reserve Bank of New Zealand – Te Pūtea Matua was in a sound position to continue to meet its mandate in the face of the COVID-19 induced economic shock. However, we must continue to transform so as to remain relevant and effective in addressing longer-term challenges, Reserve Bank Governor Adrian Orr said... More>>

Transport Industry Association: Feb 2021 New Vehicle Registrations Strongest On Record

Motor Industry Association Chief Executive David Crawford says that the February 2021 figures are the strongest for the month of February ever. Registrations of 12,358 were 8.0% up on February 2020. Year to date the market is up 7.1% (1,735 units) compared to the first two months of 2020... More>>

Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>

OECD: Annual Inflation Picks Up To 1.5% In January 2021 While Euro Area Records Sharp Increase To 0.9%

Annual inflation in the OECD area picked up to 1.5% in January 2021, compared with 1.2% in December 2020. Following a rebound between December and January, the annual decline in energy prices was less pronounced in January (minus 3.9%) than in December... More>>

Hemp Industries Association: Could The Next Team NZ Boat Be Made Entirely Of Hemp?

With The America’s Cup due to start in a few days’ time, innovators from a very different sphere have been wondering how long it could be before New Zealand could be competing in a boat entirely built from hemp, with the crew eating high-energy, nutritious hemp-infused foods and wearing high-performance hemp kit..? More>>

ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>