Logs lift port firm's results

Photo / Northern Advocate

Northland Port Corporation is reporting a 15.6 per cent rise in half-year net profit to $2.1 million, boosted by high levels of log exports.

Revenue for the six months to the end of December was up 15.3 per cent to $3.1 million, and an unchanged interim dividend of 2.5c per share is to be paid.

The company said its 50 per cent interest in port operator Northport accounted for most of its operating earnings, with the group's better earnings mainly due to an improved trading result by Northport, which continued to have high levels of log exports.