Port Results Vary by Region

Wednesday 3 Nov 2021

 
Port Nelson’s 2021 Financial Year Results Reflect The Impacts Of Global Shipping Challenges - Port Nelson Limited has released its financial results for the year ended June 2021. The 2021 financial year saw Port Nelson’s performance impacted by the global supply chain and shipping challenges.

The Port had previously set its lowest profit budget in five years for 2021, due to concerns over how trade would respond in a COVID environment. This budget was exceeded despite lower cargo volumes due to strong cost control and increases in property valuations.

Port Nelson reported a Net Profit After Tax (NPAT), excluding one-off property revaluations, of $9.1m, up $1.7m (23%) on budget, and up 12% on the previous year. Strong commercial property revaluations contributed to an equity increase of $3.9m, impacting positively on the year’s profitability. The final NPAT was $13.0m. The Port was pleased to declare a fully imputed, full year, dividend of $4.0 million.

The Port’s cargo volumes for 2020/21 were 3.25 million tonnes, down 3% on budget, and 1% on the previous year. This result masks some key variances in our major cargo groups. Log exports were up 8% on budget, reflecting strong demand and prices in China. Container throughput was 102,995 Twenty-Foot Equivalent Units (TEU), down 13% on budget and 11% on last year.

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Port of Tauranga sees strong growth in first quarter despite Covid disruption - Meanwhile, further north, results for the first quarter at Port of Tauranga paint quite a different picture. - Port of Tauranga, New Zealand’s largest port, has just reported a 6.9% increase in total trade to 6.8 million tonnes in the first quarter of the 2022 financial year.

Log export volumes increased 2.4% to 1.6 million tonnes. Direct dairy exports increased 6.7% in volume and kiwifruit exports were also strong, up 7.1% on the first quarter of last financial year. Container volumes increased 8.1% to 310,997 TEUs1. Exports increased 5.3% to 4.3 million tonnes and imports increased 9.8% to 2.5 million tonnes.


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