The Eastland Group will invest more than $260 million over the next five years to enhance the infrastructure in Tairawhiti reports The Gisborne Herald.
According to The Gisborne Herald the Eastland Group has announced a record audited profit of $14.9 million for the year ended March 2014. Chief executive Madd Todd told The Gisborne Herald that this was a solid increase on the previous years $12.8 million, which was also a record profit for the group.
The Eastland Group comprises an electricity generation business, an electricity distribution business, and a logistics business which includes an international seaport and a domestic airport.
The three businesses combined gave Eastland Group an income of $71 million in 2014, pre-tax earnings of $8.3 million from the electricity distribution sector, $4.8 million from electricity generation and $15.4 million from the logistics sector which includes Eastland Port.
Todd says that during the last financial year to March 2014, the company invested more than $22.4 million on the development of its assets, and this included $11.5 million on Eastland Port.
He told The Gisborne Herald that Eastland Group is committed to the efficient operation and development of the Tairawhiti region’s asset infrastructure.
