Lyttelton Port Company has delivered record revenue and profit in the first half of the financial year, driven by strong growth in bulk cargo volumes and disciplined cost management.
For the six months from July 1 to December 31, the port recorded total revenue of $108.5 million, up $7.7m or 7.6% on the same period last year. Net profit after tax rose 19.2% to $14.6m, while EBITDA increased 15.4% to $35.8m.
Bulk cargo was the standout performer, with volumes up 13% year on year and well ahead of previous results.
Chief executive Graeme Sumner says the result marks another step toward a more financially sustainable organisation.
“This growth demonstrates the ongoing resilience of our bulk operations and the important role the port continues to play in supporting Canterbury’s and the South Island economy,” Sumner says.
Container volumes were mixed during the period. Refrigerated exports continued to grow despite a slower dairy season, and full import container volumes rose slightly. Total container throughput was 208,829 TEU, down 4% on the same six-month period last year.
Sumner says volumes are expected to lift in the second half.
“Second-half TEU volumes are expected to be significantly higher, on the back of a busy export season,” he says.
Total expenses for the period were $72.7m, up $2.9m or 4.2%. The increase was driven primarily by payroll changes following the restructuring of container terminal operations and planned investment in digital projects.
“Our cost base remains carefully managed and aligned with the future needs of the organisation,” Sumner says.
Lyttelton Port Company paid a final dividend of $7.69m in November to Christchurch City Holdings Limited, its 100% owner. That brought total dividends for the year ended June 30, 2025 to $11.49m, compared with $12.5m paid in the previous financial year.
The company reported no significant health and safety events during the half. Lost-time injury frequency rates fell to 2.36 from 3.35, while the total recordable injury frequency rate declined to 2.87 from 3.69.
