Ports of Auckland lifts profit despite box decline
The global economic recession saw container volumes at Ports of Auckland drop 3.7% in the first half of the year.
Container trade at New Zealand’s biggest port fell to 438,439 teu in the six months ended December 31 from a record high of 455,083 teu in the previous corresponding period, while vehicle imports declined 5.6% to 62,751 units.
However, the economic downturn did little to dampen earnings with first-half net profit jumping 49% from last year to $13.9m.
“Over the last six months we have successfully contained costs, improved productivity and increased our upper North Island container market share,” Ports of Auckland managing director Jens Madsen said.
Mr Madsen said while he was pleased with the improvement in performance, the company “must do better" in other areas including customer service.
