RESEND Port of Tauranga prepares for big ships, reports record profit

Thu, 22 Aug 2013

(Fixes garble in 7th graph) By Pam Graham Aug. 22 (BusinessDesk) – Port of Tauranga, the country’s biggest export port, has reported a record profit bang on expectations as it readies a dredging project to prepare for larger ships. Net profit of $112.1 million in the year ended June 30 was up 52 percent on the previous year and in line with First NZ Capital’s expectation of $112.9 million. After a $38.2 million gain on the sale of the company’s 50 percent stake in logistics company C3 and other items are removed the underlying profit rose...

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