CORRECT Port of Tauranga posts record FY profit, lifts dividend as volumes climb

Wed, 29 Aug 2012

(Removes reference in third-last paragraph to revaluation gain, which didn’t go through the P&L) By Jonathan Underhill Aug. 29 (BusinessDesk) - Port of Tauranga, whose shares rose to an all-time high this week, posted a 26 percent gain in full-year profit to a record and predicted more earnings growth in 2013 on rising volumes of freight. Profit was $73.5 million, or 54.8 cents a share, in the 12 months ended June 30, from $58.4 million, or 43.6 cents a year earlier, the Tauranga-based company said in a statement. Sales climbed 23 percent t...

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