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Port of Tauranga kiwifruit shipments slip 1.4%

The Port of Tauranga has transformed itself into Australasia's most efficient port and has broken records for cargo volumes. However, Kiwifruit volumes slipped 1.4 percent to 982,000 tonnes after a poor growing season.

New Zealand's biggest port company today posted a 7.9 percent gain in annual profit to $83.4 million, at the top of its guidance, in a year when total trade rose 10 percent to a record 22.2 million tonnes. Profit was just below the estimate of $84.1 million from brokerage Forsyth Barr, which has an 'underperform' rating on the stock.

The Bay of Plenty Regional Council operates the container terminal, with productivity which is 59 percent higher than the average of Australian ports, based on Ministry of Transport figures. It handled a record 1.08 million containers in the latest year, up about 14 percent from 2016 levels.

Source: nbr.co.nz

Publication date: 8/25/2017


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