NZ's Timaru port volume up 18.8pc as profits rise 12pc to US$2.5 million
THE New Zealand South Island Port of Timaru's PrimePort annual net profit increased 12 per cent year on year to NZ$3.5 million (US$2.5 million) on the back of steady trade levels and the completion of big ticket projects, reports Fairfax Media.
PrimePort CEO Phil Melhopt said the company would pay a dividend of NZ$1.35 million, a 3.8 per cent increase on the year before.
Container volumes was up 18.8 per cent year on year to 84,400 TEU. Non-containerised cargo increased three per cent from 1,335,100 tonnes. Log exports were up 12 per cent, which helped balance decreases in stock feed imports and fuel imports.
A dairy downturn had some impact, but not as much as expected, Mr Melhopt said.
Said PrimePort chairman Roger Gower: "We had a vision for what we wanted for the district and for the port, and it's great to see that actually happening."
THE New Zealand South Island Port of Timaru's PrimePort annual net profit increased 12 per cent year on year to NZ$3.5 million (US$2.5 million) on the back of steady trade levels and the completion of big ticket projects, reports Fairfax Media.
PrimePort CEO Phil Melhopt said the company would pay a dividend of NZ$1.35 million, a 3.8 per cent increase on the year before.
Container volumes was up 18.8 per cent year on year to 84,400 TEU. Non-containerised cargo increased three per cent from 1,335,100 tonnes. Log exports were up 12 per cent, which helped balance decreases in stock feed imports and fuel imports.
A dairy downturn had some impact, but not as much as expected, Mr Melhopt said.
Said PrimePort chairman Roger Gower: "We had a vision for what we wanted for the district and for the port, and it's great to see that actually happening."