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Port of Tauranga posts $112m net profit

A record annual result for the Port of Tauranga.(Yahoo New Zealand)sc1

The company’s reported net profit after tax has risen by a whopping 52 percent, to $112 million.

That’s being put down to strong earnings from its associate companies, and a $38 million profit on the sale of their share in freight logistics company C3 Limited.

Chairman John Parker says the Port has delivered a stand-out result, and its plans for a stake in PrimePort Timaru, alongside the acquisition of land in Auckland, will help sustain the levels of growth being seen.