Napier Port reports robust earnings growth

Napier Port has reported robust earnings growth for the nine months to the end of June 2024.

Revenue for the quarter increased by 27.9% to $36.5 million, driven by a 29.6% increase in container services volume and a 7.4% increase in bulk cargo volume.

The result from operating activities for the quarter also showed a significant growth of 64.3% to $12.3m.

For the nine-month period, revenue rose by 15.5% to $107.1m, while the result from operating activities increased by 35.1% to $39.6m.

Underlying net profit after tax for the nine months was up 70% to $15.9m.

Napier Port's chief executive, Todd Dawson, attributed the earnings growth to the continuing recovery of regional trade.

The company has maintained its earnings guidance for the year.