Port of Tauranga Limited reported strong financial results for the first six months of the 2023 financial year, with Group Net Profit After Tax increasing 11.3% to $62.7 million.

Total cargo volumes decreased 2.5%, however container volumes increased 2.5%.

Factors contributing to the success included increased container volumes and transhipment, as well as the return of cruise ships to the Bay of Plenty.

The Board of Directors has declared a fully imputed interim dividend of 6.8 cents per share, a 4.6% increase on the previous corresponding period.

The outlook for the second half of the 2023 financial year remains uncertain, with predictions of a recession and the ongoing conflict in Ukraine causing widespread disruption.

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