Ports of Auckland returns to profit, squeezing more revenue from small volume gains

Thu, 29 Aug 2013

Aug. 30 (BusinessDesk) - Ports of Auckland, whose operations were disrupted last year in a protracted industrial dispute, returned to profit after writedowns put it in the red last year, lifting revenue at a faster pace than its gains in container volumes. The Auckland-based hub reported profit of $38.9 million in the 12 months ended June 30, turning from a loss of $11.9 million a year earlier when the company wrote down the value of its assets by almost $43 million. Revenue rose 5.1 percent to $186.6 million, outpacing a 1.3 percent lift in...

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