Economic headwinds, rail charges hit Port of Tauranga

Port of Tauranga recorded a drop in net profit for the first half of the 2024 financial year. (Image: Port of Tauranga)

Fri, 23 Feb 2024

Port of Tauranga has been hit with economic headwinds, resulting in a drop-off in trade volumes and a decline in profit.The biggest export port in the country released its financial results for the six months to December on Friday, recording net profit after tax (NPAT) of $47.2 million, down 24.7% on the previous comparable period.Total trade was down 8.5% at 11.6 million tonnes, although log exports were up 19.2% as a result of early harvesting and export of cyclone-damaged trees.Container volumes fell 15.8% to 536,930 twenty-fo...

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