Port of Tauranga achieved an 11 percent increase in group net profit for the first six months of the 2023 financial year, despite a fall in total cargo volumes. Group net profit to December was $62.7 mln. Operating revenue was up 13.9 per cent on the previous period to $211.9 mln. New Zealand’s biggest port and main export gateway will pay an interim dividend of 6.8c per share, up 4.6 per cent on the previous period.
Chief executive Leonard Sampson said based on the first half year performance, full year earnings were expected to be between $117 and $124 million. Weather events had been expected to impact annual primary produce export volumes, including kiwifruit. Direct kiwifruit export volumes were down significantly, by 30.7 per cent, due to issues with fruit quality.
Source: nzherald.co.nz