Port of Tauranga records record $155m profit despite cargo volume drop
Port of Tauranga has reported its highest profit on record, driven by higher charges despite a slight decline in cargo volumes.
Port of Tauranga has achieved a record $155 million profit in the year to June 30, with higher port charges offsetting modest growth in cargo volumes. Container volumes rose only marginally by 0.4% to 1.2 million 20-foot equivalent units, but revenue from container movements increased by $35.5 million. The port continues to face challenges with insufficient capacity to handle ships and cargo.
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RNZ
Record $155m profit for Port of Tauranga
It comes despite a slight drop in cargo volumes and struggles with insufficient capacity to handle ships and cargo.
BusinessDesk
Port of Tauranga reports revenue growth despite decline in total trade
Port of Tauranga has reported meaningful growth in earnings and underlying profit despite slightly lower trade volumes. Higher port charges helped it earn $35.5 million more from container movements in the year to June 30, even as container volumes rose…