Marsden Maritime Holdings has announced its financial results for FY23.
The company's Business Park and Marina Operations revenue increased by 29% to $11.3 million compared to the previous year.
However, the net profit after tax before valuation movements decreased to $8.2 million from $9.1 million.
The company's joint venture interest in Northport also saw a decline in earnings by 3.5%.
The decrease in log and container volumes through Northport was attributed to the effects of Cyclone Gabrielle.
Despite these challenges, the company's revenue from lease and marina operations showed growth.
The company will pay a final dividend of 7.5 cents per share.
Looking ahead, Marsden Maritime Holdings aims to focus on revenue growth and asset maintenance to generate higher shareholder returns in the long term.See more