Port of Tauranga, which is in the middle of merger talks, today announced a whopping 56 per cent jump in its six-monthly profit built on a significant rise in total trade across the wharves.
The port reported an operating profit of $21.246 million for the half-year.
Port chairman John Parker said it was an excellent result and demonstrated the earning capacity of the company.
He said even though the second half of the financial year would be adversely affected by the Maersk decision to make Ports of Auckland its main North Island call, Port of Tauranga directors were confident the 12-month result would be well ahead of last year.
The total cargo of 6.874 million tonnes moved through the port at Sulphur Point and Mount Maunganui represented a 9 per cent increase compared with the same period for the previous year, and container numbers grew to 254,191 a rise of 12 per cent.
The log trade continues to struggle, with volume down 7 per cent to 1.155 million tonnes for the six months.
But the other main cargoes had strong rises - coal up 8 per cent in volume, oil products up 7 per cent, fertilisers climbing 25 per cent, sawn timber an even bigger 27 per cent, and wood pulp up 6 per cent.
The port reported an operating profit of $21.246 million for the half-year.
Port chairman John Parker said it was an excellent result and demonstrated the earning capacity of the company.
He said even though the second half of the financial year would be adversely affected by the Maersk decision to make Ports of Auckland its main North Island call, Port of Tauranga directors were confident the 12-month result would be well ahead of last year.
The total cargo of 6.874 million tonnes moved through the port at Sulphur Point and Mount Maunganui represented a 9 per cent increase compared with the same period for the previous year, and container numbers grew to 254,191 a rise of 12 per cent.
The log trade continues to struggle, with volume down 7 per cent to 1.155 million tonnes for the six months.
But the other main cargoes had strong rises - coal up 8 per cent in volume, oil products up 7 per cent, fertilisers climbing 25 per cent, sawn timber an even bigger 27 per cent, and wood pulp up 6 per cent.