Ports of Auckland FY profit almost doubles as volumes rise, costs kept at bay

Wed, 20 Aug 2014

By Jonathan Underhill Aug. 20 (BusinessDesk) - Ports of Auckland posted a 90 percent gain in full-year profit, after lifting volumes of containers and breakbulk freight while reining in costs and using offsets to reduce its tax bill. Profit rose to about $74 million in the 12 months ended June 30, from $38.9 million a year earlier, the Auckland City-owned port company said in a statement. Sales from services rose 18 percent to $219.9 million, while the cost of services rose a more modest 4.6 percent to $98.6 million. Like its rival Por...

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