Auckland’s profit reaches $37.2m

Managing director Jens Madsen said that close management of costs (down 3.1% to NZ$113.8m (US$80m)) and improved container volumes had contributed to the strong results.

Overall container volumes reached a new high of 867,368 teu, up nearly 3%, while full import volumes were up 4.2%. Earnings before interest, taxes, depreciation and amortisation (EBITDA) for the container division, the largest part of the port’s business, were up 8.8% on 2008/09.

“Ports of Auckland achieved some good market gains through the year but the operating environment remains very dynamic and competitive,” Madsen said, adding that the port was handling larger vessels making fewer calls.