FIRST CUT: Port of Tauranga FY profit rises 13% on record cargo volumes

Thu, 23 Aug 2018

By Rebecca Howard Aug. 24 (BusinessDesk) - Port of Tauranga, New Zealand's biggest port company, posted a 13 percent rise in annual profit, driven by record cargo volumes, and said it's planning to expand capacity. The port company said net profit rose to $94.3 million in the year to June 30 from $83.4 million a year earlier as container volumes lifted 8.9 percent to nearly 1.2 million twenty-foot equivalent units or TEUs and overall cargo was up 10.2 percent to almost 24.5 million tonnes. "Our expansion programme to accommodate larg...

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