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Port of Tauranga Announces Record Profit Highlights

1 29 August 2012

Port of Tauranga Announces Record Profit Highlights


Net Profit After Tax (NPAT) for the year to 30 June 2012 rose 26% to a new record of $73.5 million.

Final dividend of 27 cents per share (bringing total dividend payout to 39 cents per share - up 26 percent).

Total container volumes through the Port increased 35% to 796,024 TEUs. Trade volumes rise 20% to 18.5 million tonnes from 15.4 million. Log volumes up 11% to 4.9 million3.

Dairy volumes up 126% to 1.33 million tonnes.

Port of Tauranga celebrates the 20th anniversaries of listing on the New Zealand Stock Exchange and the establishment of Sulphur Point.

Port of Tauranga, the country s leading container terminal, today marked its twentieth year as a publicly listed company by posting a record annual result. Net Profit After Tax for the 12 months to 30 June 2012 rose 26% to $73.5 million from $58.4 million in 2011, more than ten times the level achieved in 1992, Port of Tauranga s first year as a publicly listed company.

Group Net Profit After Tax has now increased 87% since the global financial crisis started in July 2007, due to the Company diversifying revenue streams through investment in six associate companies and continued growth at its MetroPort terminal in Auckland. In line with Port of Tauranga s intention to steadily increase its dividend year-on-year consistent with performance, the Board has declared a final dividend of 27 cents per share, taking the full-year dividend to 39 cents, an increase of 26% from 31 cents paid in 2011. The dividend extends the Port s reputation of delivery for shareholders over two decades as a publiclylisted company. For the year to 30 June 2012 total gross shareholder return - share price increases plus dividends - was 30 percent. Over the Port s twenty-year history, total shareholder returns stand at an average compounding 24% per annum. Port of Tauranga has been the best performing share on the NZX over the last 15 years and with a return well ahead of the benchmark NZX50 Index.

[…]

Full Release: Annual_result_2012.pdf

ENDS

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