Ports of Auckland annual profit drops 30% as it invests in the future

Thu, 26 Sep 2019

By Jenny Ruth Sept. 27 (BusinessDesk) - Ports of Auckland's annual net profit fell 30 percent and it axed its final dividend but its chief executive says it was "a good result in the circumstances." Those circumstances included disruption and reduced capacity caused by the port's installation of automated equipment, the loss of a shipping service and a 14 percent downturn in car volumes through the port. The Auckland Council-owned port's net profit for the year ended June fell to $53.9 million from $76.8 million the previous year. "...

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