Napier Port profits up 50% as Gabrielle recovery helps volumes

Napier Port has had a strong rebound from the pain of Cyclone Gabrielle. (Image: NZME)

Tue, 19 Nov 2024

Strong annual volume growth has helped Napier Port's profit jump nearly 50% as it shakes off the residual effects of Cyclone Gabrielle.The New Zealand Exchange-listed (NZX) Hawkes Bay port company reported a net profit after tax (Npat) of $24.8 million in the 12 months to Sept 30, up 49.7% compared with last year. The underlying Npat, which excludes net insurance proceeds, revaluation gains, and tax impacts, increased 94.6% to $20.7m.Chair Blair O’Keeffe said the result demonstrated the port’s "strong fundamentals"...

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