Ports of Auckland Group increased its profits by 40% in the first half of the Fiscal Year 2023 (July 2022 - December 2022) announcing a net profit after tax (NPAT) of approximately US$14 million. Based on the first half results, New Zealand's port group revised its full-year NPAT forecast increasing it by US$4.5-7 million to US$26-28 million, translating to an uplift of 20-28% on the FY23 budget.
Additionally, Ports of Auckland Group has already committed to delivering an FY24 NPAT of around US$35 million, in line with the Council's budget request.
Meanwhile, following the improved financial performance, an interim dividend of approximately US$10 million will be paid to its shareholder, Auckland Council. The board expects to pay a total dividend of US$20 million for the FY23 year, an increase of 111% on the total dividend in FY22, while also reducing the Group's debt.
Furthermore, Ports of Auckland saw a significant year-on-year growth of 15% in its container volumes, reaching 421,375 TEUs from July to December 2022, while 15% of boxes were moved via rail.
Roger Gray, CEO of Ports of Auckland, commented, "We're doing our part to resolve supply chain congestion and can see the initiatives we've put in place are effective. To give just one example, during the first half our container terminal throughput improved by around 3,000 TEU a week, compared to the start of the financial year."
For more information: container-news.com