PORT of Auckland has announced its total net profit after tax of $13.9 million for the six months period ending December 2009 has lifted after last year’s result of $9.3 million.
“The improved result is particularly pleasing because it was achieved during a period of lower trade volumes as a result of the global economic recession,” managing director, Jens Madsen says.
“Over the last six months we have successfully contained costs, improved productivity and increased our upper North Island container market share, reinforcing our position as New Zealand’s leading container port.”
According to the Port of Auckland, port operations EBIT were up 4.6% despite revenue difficult trading environment
Madsen says the global downturn was however felt by container volumes at most ports around the world, Port of Auckland included.
At 438,438 TEU (twenty-foot equivalent units), container volumes were down 3.7% on 2008’s record high of 455,083.
Chairman John Lindsay says the team of Ports of Auckland deserved congratulations for their focused performance in challenging times.
“Actions taken last year, including the restructuring of Ports of Auckland’s balance sheet and funding arrangements, have had a significant, positive impact on the company’s performance.”
Madsen claims the overall performance for 2010 has already been promising, with January container terminal volumes up 7% on 2009, and bulk, breakbulk and vehicle volumes improving.
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