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2008 March 3   07:18

Ports of Auckland profit up 20pc in 2007

Growth in container volumes has seen Ports of Auckland post an almost 20 per cent increase in half-year profit.
The port reported an after-tax profit of $12.6 million for the six months to December 30, up 19 per cent on the December 2006 half year.
PoA managing director Jens Madsen described the result as satisfactory in a difficult market environment.
Total container volumes at the port were up by 20 per cent with export container volumes up 9 per cent and import volumes up 7 per cent. There was also significant growth in trans-shipment volumes as more cargo was hubbed through Ports of Auckland.
Meanwhile breakbulk – or non-containerised - cargo volumes were down by 13 per cent mainly due to the transfer of the Wynyard Wharf to Auckland Regional Holdings on April 1, 2007. The port continues to manage Wynyard Wharf on behalf of ARH.
PoA paid a dividend of $9.5 million to its owner - ARH – on February 20.

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