Port of Auckland has announced that revenue, underlying profit, and net profit after tax have decreased this financial year, but says container volumes were better than expected after the loss of a major service.
The port company is also investigating possible automation at the container terminal to improve capacity and efficiency.
It reports container volumes up 0.4% to 972,434 TEU from 968,741 TEU last financial year.
“We have made better than expected progress replacing container volumes after Maersk moved a major service away from Auckland early in our financial year,” says Chief executive Tony Gibson.
“Container volumes finished the year up, against expectations that volumes might fall,” he says.
Total group revenue was $218.3m, down from $221.2m the year before, reflecting the sale of a subsidiary company, Connlinx, part way through the year.
The port company reports underlying profit was $61.4m compared to $63.4m last year, down 3.2%.
It says net profit after tax was $63.2m compared to $74m last year, down 14.6%.
Capital expenditure was $47.9m in 2015, up from $27.4m in 2014.
Ports of Auckland has declared a $41.7 million dividend for Auckland in the 2015 financial year, which is pleasing according to Gibson..
Ports of Auckland is also developing a North Island supply chain network to support future growth.
“We are investing in a North Island supply chain network, with new freight hubs in the Manawatu and Bay of Plenty, and an expansion of our existing freight hub in South Auckland,” says Gibson.
“By growing export volumes through the port we will balance the volumes of imports being driven by Auckland’s strong growth and achieve greater supply chain efficiencies.
“Rail services increased from 8 per week to 21, and rail volumes are up to over 100,000 TEU a year. The total number of containers (TEU) moved by truck fell by 53,508.
“We are investigating partial automation of our container terminal. We are currently consulting staff and will shortly commission a scoping study. A decision on whether or not to proceed will happen in early 2016.”
“In October we will finish a 50m wharf extension at Fergusson Container Terminal and start construction of Fergusson North Wharf. These projects increase our terminal berth space by around 50% and are essential for handling growth in both ship size and trade volumes,” he says.
