Mid-Year Profit for Centreport

Mid-Year Profit for Centreport

CentrePort posted a net profit after tax of $4.6m for the six months to December 2015, $1.5m up on the same period last year (profit $3.1m).

Key features of this year’s result were a 3% increase in revenue, an 18% increase in container volumes and a 12% increase in log volumes.

Chairman Warren Larsen said “the Board is pleased with the result, the company’s performance is positive and growth continues”.

CentrePort secured a new international shipping service, which commenced in November. The ‘Panama service’, will take goods from central New Zealand directly to the Americas and Europe.

Work continues on CentrePort’s Shipping Channel Deepening project. The port is undertaking a range of investigations to ensure the potential effects of the project are well understood and carefully managed.

Other investments include the development of a regional rail hub in the Wairarapa. Log volumes through Wellington have grown by 100% in the last five years. The hub will provide a reliable and cost effective transport connection based upon rail, supporting the fast growing and valuable forestry sector.

Chief executive Derek Nind said the company is very well positioned for growth and by working closely with customers and regional partners, is steadily progressing towards its vision to be the port of choice for central New Zealand.

A fully imputed interim dividend of $2.6m has been declared.

ENDS

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