NEW ZEALAND's Ports of Auckland suffered a bad year with a 2.5 per cent in year on year 'underlying' profit decline to US$20.7 million, drawn on revenues of $226.3 million, down 2.2 per cent.
Net profit increased 49 per cent year on year to $231.4 million, but that was due to a property re-valuation, said the port authority.
'This year has been tough,' said interim CEO Wayne Thompson. 'The combined impact of the pandemic and a fatal accident a year ago has had a heavy impact on our people and the business.
'At the container terminal the result was congestion and reduced volume. At our multi-cargo terminal, we've seen significantly higher volumes despite pandemic-related shipping delays,' Mr Thompson said.
'While we have seen growth in some cargo categories, overall revenue is down, and so is profit,' he said.
Container throughput fell 7.5 per cent to 818,238 TEU. But car and light commercial vehicle throughput rose 9.5 per cent to 236,260 units.Total bulk and breakbulk throughput (including cars & light commercial vehicles) rose 15 per cent to 6.67 million tonnes year on year.
SeaNews Turkey
Net profit increased 49 per cent year on year to $231.4 million, but that was due to a property re-valuation, said the port authority.
'This year has been tough,' said interim CEO Wayne Thompson. 'The combined impact of the pandemic and a fatal accident a year ago has had a heavy impact on our people and the business.
'At the container terminal the result was congestion and reduced volume. At our multi-cargo terminal, we've seen significantly higher volumes despite pandemic-related shipping delays,' Mr Thompson said.
'While we have seen growth in some cargo categories, overall revenue is down, and so is profit,' he said.
Container throughput fell 7.5 per cent to 818,238 TEU. But car and light commercial vehicle throughput rose 9.5 per cent to 236,260 units.Total bulk and breakbulk throughput (including cars & light commercial vehicles) rose 15 per cent to 6.67 million tonnes year on year.
SeaNews Turkey
