Napier Port profit hits record in 2017; eyes more capacity for cruise ships, greater cargo loads

Mon, 11 Dec 2017

By Sophie Boot Dec. 12 (BusinessDesk) - Napier Port lifted net profit to a record this year as the Kaikoura earthquake meant it benefited from atypically high cargo volumes, and it wants to expand so it can handle larger tourism and trade ships. Net profit jumped 46 percent to $16.7 million in the year ended Sept. 30 on a 19 percent increase in revenue to $86.7 million, its annual report shows. The port paid a $10.7 million dividend to the Hawke's Bay Regional Investment Company, up from $7.9 million in 2016, and invested $18.7 million in...

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