Ports of Auckland posts net profit of $13.9m for half

Photo / Glenn Jeffrey.

Ports of Auckland has announced a net after tax profit of $13.9 million for the half-year ending December 31, with a $9.9m interim dividend.

The company's earnings before interest and taxes (ebit) was $27.4m, up 4.6 per cent on the previous half, with the earnings before interest, tax, depreciation and amortisation (ebitda) of $37.4m, up 1.6 per cent from the last half.

The company paid no interim dividend last year.

The ports' management was particularly pleased with the result, given the global recession's cutting of trade volumes, managing director Jens Madsen said.

"A number of long-term initiatives are beginning to pay off. Over the last six months we have successfully contained costs, improved productivity and increased our upper North Island container market share, reinforcing our position as New Zealand's leading container port."

A total of 62,751 vehicles had been unloaded at the port, a 42.4 per cent increase on the previous half but still lagging the July-Dec 2008 half's figure by 5.6 per cent.

Over 438,400 twenty-foot equivalent containers (TEUs) had been unloaded at the port, from

The ports had also had 15 cruise ships dock at its facilities during a traditionally quiet part of the year, Mr Madsen said, with 62 over the whole financial year. This year, a record number of 73 cruise liners are projected to visit.