Port Nelson has reported a solid result for the 2016 year with an operating profit of $18.3 million as against a figure of $17.9 million in the previous year. This was ahead of budget due, in the main, to higher than expected cargo revenue per tonne and container volumes.
Port Nelson Chairman Phil Lough reported to shareholders at the company's AGM on Wednesday 21 September, that overall cargo volumes were up on budget despite the hailstorm in early December of 2015 that hit apple export volumes for the second year in a row, following a similar event in late 2014.
Highlights of the report to shareholders, were revenues of $45.5 million, operating profits of $18.3 million and an overall net profit after tax of $5.3 million (including a one off expense related to the Calwell Slipway work of $2.7 million).
Container volumes also continued to grow to record levels as the weekly Maersk, Pacifica, MSC and ANL calls were well supported by the regions importers and exporters.
