The Ports of Auckland posted net profit after tax of $63.2 million on $218.3 million in revenues for the financial year, which ended June 30.
The Ports of Auckland posted a net profit after tax of $63.2 million for the financial year, which ended June 30, a year-over-year drop of 14.6 percent, according to the ports’ most recent financial statements.
The group’s total revenues for the financial year, which included the sale of subsidiary Connlinx, stood at $218.3 million, down 1.3 percent from the previous financial year.
Container volumes rose 0.4 percent to 972,434 TEUs at the New Zealand complex. Volumes were better than anticipated, Ports of Auckland CEO Tony Gibson said, as throughput was expected to fall as a result of Maersk Line moving a major service from Auckland early in the financial year.
Car volumes increased 17.4 percent to 243,801 units for the financial year.
“Prospects for the coming year seem subdued, as a result of lower dairy prices and a fall in the New Zealand dollar. We are expecting a softening in some import trades, slower growth in car volumes and a decline in bulk exports,” Gibson said in a statement. “Long term growth prospects remain strong, in line with Auckland’s growth. As the port on Auckland’s doorstep we are the most direct route into the Auckland market and we expect our volumes to continue to climb. We are making several strategic investments to ensure we can meet that growth.”
The Ports of Auckland will open a third intermodal freight hub in New Zealand at the end of 2015, which will be located in Mount Maunganui, a town situated along the Bay of Plenty just outside of Tauranga, New Zealand.
In addition, the Ports of Auckland is expanding its existing freight hub in South Auckland. Its other freight hub is situated in Longburn, Manawatu.
In October, a 50-meter wharf extension at Fergusson Container Terminal will be completed and the construction of Fergusson North Wharf will begin. These projects will increase the terminal’s berth space by approximately 50 percent.
The Ports of Auckland is also growing the use of rail to move containers, through which 21 rail services a week are now offered.
In addition, a study will be commissioned to investigate implementing partial automation at the container terminal with a decision scheduled to be made in early 2016.
Ports of Auckland FY2015 profits fall 14.6%
