Ports of Auckland boosts dividend despite failed automation project write-off

Automatic 'blue cranes' are now mothballed. (Image: BusinessDesk)

Wed, 31 Aug 2022

Ports of Auckland, the country's second-largest container terminal, has boosted its dividend to the city by 280% to $14.2 million after plunging to a net loss of $10.3m for the year ended June 2022.That was after writing off $63.1m in costs related to its failed automation project at its Fergusson container terminal.The write-down came after the Ports of Auckland (POAL), an asset of the Auckland council, opted to pull the pin on the six-year project in June – a legacy of former port boss Tony Gibson.Gibson resigned abruptly last June,...

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