Game of two halves sees Port of Tauranga bolster profits 5.2%

Game of two halves sees Port of Tauranga bolster profits 5.2%
Extreme weather affected cargo volumes in the second half of the year. (Image: POT)
Brent Melville
A “year of two halves” for Port of Tauranga delivered a 5.2% improvement in net profit after tax (NPAT) to $117.1 million for the year to June 30.Despite overall cargo volumes at the country’s largest export port decreasing 3.6% to 24.7 million tonnes, container volumes were also down 5.1%, at 1.18 million twenty-foot-equivalent units (TEU). Revenue was $420.9m, compared with $375.3m the previous year, and the group declared a final dividend of 8.8 cents per share, taking the total dividend to 15.6c per sha...

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