Port of Tauranga posts 1.3% gain in full-year profit as container volumes fall, logs rise

Wed, 20 Aug 2014

By Jonathan Underhill Aug. 21 (BusinessDesk) - Port of Tauranga posted a 1.3 percent gain in full-year earnings, excluding a year-earlier gain from an asset sale, as an increase in the volume of logs across its wharves made up for a decline in containers. Underlying earnings were $78.3 million in the 12 months ended June 30, from $77.2 million a year earlier, the Tauranga-based company said in a statement. Net profit dropped 30 percent from a record $112 million a year earlier, when it took a one-time gain from the sale of its stake in lo...

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