Lyttelton Port Company Ltd says its results for the first four months of the new financial year were better than expected.
The net profit for the first four months was up almost 25 percent on the same period last year.
Container terminal volumes were up 7 percent compared to the same period last year and coal volumes 52 percent up.
"These increases in coal and container volumes have contributed to a pleasing growth in total revenue, up almost 9 percent on the same period last year," chairman Rodger Fisher told the annual meeting.
He said that car volumes had decreases, which was expected in the current environment.
The port has traditionally had poor labour relations but Mr Fisher sought to put that idea to rest, citing successful settlement of the main collective agreement with combined unions.
In the container terminal labour productivity increased by 8.8 percent last year.
"We have made significant advances to our internal culture, we have improved systems and procedures resulting in further efficiencies, and we have maintained and gained new services."
He said it was difficult to predict the future.
"We continue to expect the full year's net profit after tax for the year ending June 30 to be approximately $10 million, plus or minus 5 percent, which is in line with our earlier forecasts.
"We will be able to give a further update at the time of releasing our six months result in February 2009."
The port is talking to Port Otago Ltd about an operational integration.
The integration would result in co-ordination of future expenditure to avoid duplication and co-ordinated road and rail use.
It would also increase productivity at each port and new services would be jointly developed. "I must emphasise again that this is the first stage and there is significant work to be done," said Mr Fisher.
The net profit for the first four months was up almost 25 percent on the same period last year.
Container terminal volumes were up 7 percent compared to the same period last year and coal volumes 52 percent up.
"These increases in coal and container volumes have contributed to a pleasing growth in total revenue, up almost 9 percent on the same period last year," chairman Rodger Fisher told the annual meeting.
He said that car volumes had decreases, which was expected in the current environment.
The port has traditionally had poor labour relations but Mr Fisher sought to put that idea to rest, citing successful settlement of the main collective agreement with combined unions.
In the container terminal labour productivity increased by 8.8 percent last year.
"We have made significant advances to our internal culture, we have improved systems and procedures resulting in further efficiencies, and we have maintained and gained new services."
He said it was difficult to predict the future.
"We continue to expect the full year's net profit after tax for the year ending June 30 to be approximately $10 million, plus or minus 5 percent, which is in line with our earlier forecasts.
"We will be able to give a further update at the time of releasing our six months result in February 2009."
The port is talking to Port Otago Ltd about an operational integration.
The integration would result in co-ordination of future expenditure to avoid duplication and co-ordinated road and rail use.
It would also increase productivity at each port and new services would be jointly developed. "I must emphasise again that this is the first stage and there is significant work to be done," said Mr Fisher.