Port of Tauranga, New Zealand's biggest export port, said full-year profit rose 7 per cent amid increased container handling and log exports.
Net income was NZ$42.1 million (S$42 million) in the 12 months ended June 30 from NZ$39.3 million a year earlier, the Tauranga-based company said in a statement sent to the stock exchange.
Sales rose 12 per cent to NZ$148.8 million.
Tauranga boosted container throughput by 25 per cent to 582,072 units, making it the second-largest after Ports of Auckland.
Last week, Auckland said it might bid for Tauranga's container operations to reduce costs and make the industry more efficient for exporters.
'We are struggling to see how any offer would be value accretive to our shareholders in view of our strong result,' Tauranga chairman John Parker said yesterday.
The port 'has always held the view a full merger makes good sense. That view has not changed', he said.
The two ports abandoned talks on a full merger last year when they couldn't agree on terms.
The company said that its second-half dividend will be 16 cents from 14 cents a year earlier.
Total cargo handled rose 7 per cent in the year ended June 30, led by increases in log, timber and paper exports.
Dairy exports fell 40 per cent while coal imports slumped 58 per cent.
Log exports are set to grow further as the currency falls and Russia raises taxes, making New Zealand products more competitive, Mr Parker said.
Trade figures for July and August add to signs that earnings will grow this year, he said.
Net income was NZ$42.1 million (S$42 million) in the 12 months ended June 30 from NZ$39.3 million a year earlier, the Tauranga-based company said in a statement sent to the stock exchange.
Sales rose 12 per cent to NZ$148.8 million.
Tauranga boosted container throughput by 25 per cent to 582,072 units, making it the second-largest after Ports of Auckland.
Last week, Auckland said it might bid for Tauranga's container operations to reduce costs and make the industry more efficient for exporters.
'We are struggling to see how any offer would be value accretive to our shareholders in view of our strong result,' Tauranga chairman John Parker said yesterday.
The port 'has always held the view a full merger makes good sense. That view has not changed', he said.
The two ports abandoned talks on a full merger last year when they couldn't agree on terms.
The company said that its second-half dividend will be 16 cents from 14 cents a year earlier.
Total cargo handled rose 7 per cent in the year ended June 30, led by increases in log, timber and paper exports.
Dairy exports fell 40 per cent while coal imports slumped 58 per cent.
Log exports are set to grow further as the currency falls and Russia raises taxes, making New Zealand products more competitive, Mr Parker said.
Trade figures for July and August add to signs that earnings will grow this year, he said.