Port of Auckland records 22% jump in operating profit amid 'tough' economic conditions

Port of Auckland attributes the uptick in container volumes to improved operational performance. (Image: POAL)

Thu, 22 Aug 2024

Port of Auckland has delivered an operating result at the upper end of its upgraded guidance, bolstered by a record cruise season and throughput improvements at the container terminal.The Auckland Council-owned company reported an after-tax operating profit of $55.2 million for the year to June 30, although this excludes things such as property revaluations and the impact of a law change for depreciation on commercial buildings.The underlying profit result is up 22% on the 2023 year and means Port of Auckland (POAL) will pay full-year divi...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

RBNZ to hike in 2026 after inflation breaches target band

ANZ Bank now officially expects a rate hike this year.

Rebecca Howard 1:42pm

Primary Sector

Mainland Group sale expected to settle in the first quarter

The Fonterra deal had been tipped to go through in the first half of this year.

Riley Kennedy 12:25pm

Mainland Group sale expected to settle in the first quarter

Economy

Annual inflation hits 3.1% in December quarter

The CPI rose 0.6% in the December 2025 quarter.

Rebecca Howard 11:00am

Annual inflation hits 3.1% in December quarter

Sponsored

Generative AI will disrupt 90% of jobs - what it means for the future of work

Here’s what that means for the future of work in New Zealand.

Cognizant

Sponsored

AI is only as good as its data foundation

NZ leaders explain why clean, connected data drives AI value.

Cognizant

More Infrastructure

Opinion

Stock & Trade: Fletcher's decades of costly missteps

Can Fletcher finally break its billion-dollar cycle of blunders and write-downs?

Stock & Trade 5:00am

Infrastructure

Vinci says Fletcher buy makes it 'major player'

The purchase of Fletcher's construction division almost doubles its NZ revenue.

Thomas Manch 22 Jan 2026

Infrastructure

Analysts see upside in Fletcher sale

But the partial sale of another known brand to a French firm also prompts disappointment.

Thomas Manch 21 Jan 2026

Infrastructure

Tauranga port re-lodges fast-track bid after law fix

Port of Tauranga has re-lodged an application under the Fast-track Approvals Act for its proposed Stella Passage development.This follows legislative amendments in December that corrected an error in how the project was described in the act’s schedule.Port of Tauranga (POT) said...

Ian Llewellyn 20 Jan 2026

Port of Auckland records 22% jump in operating profit amid 'tough' economic conditions

More Infrastructure

Your company has a subscription

Team