Northland Port FY profit climbs on Northport log volumes, property gain

Thu, 23 Aug 2012

Aug. 24 (BusinessDesk) - Northland Port Corp, which owns a half stake in the region’s Marsden Point port operator Northport, posted a 61 percent gain in full-year profit on a surge in log exports and a one-time revaluation gain on its property portfolio. Net profit rose to $7.6 million, or 18.47 cents a share, in the 12 months ended June 30, from $4.7 million, or 11.45 cents, a year earlier, the Whangarei-based company said in a statement. Sales rose to $8.2 million from $6.69 million. Most of the profit came from its 50 percent share of the...

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