Coal recovery helps Lyttelton port profit

Strong container volumes and a recovery in coal trade fuelled a 13 per cent gain in Lyttelton Port Company's annual profit.

Bottomline profit was $14.86 million for the year to June 30 against $13.15 million a year ago.

A lower exchange rate, favourable weather and commodity price recovery all had an impact on the primary sector, directly boosting exports, says chairman Brent Layton.

Other export sectors were also improving, with the coal trade almost back to 1997's record level.

Sales of $58.07 million were up 5 per cent, with operating profit up 11.3 per cent at $23.2 million, from last year's $21.6 million.

A final dividend of 6.7 cents a share will be paid on September 29, taking the full-year payout to $10.25 a share, and a special dividend of 10c a share.

- NZPA