Port delivers consisent result in challenging trading conditions

A consistent performance by Port Taranaki Ltd resulted in a net profit of $4.75 million in the half-year to 31 December, up 1.5% on the same period in the previous year.

Port Taranaki.Total trade volume for the six months was up 6.4% to 2.69 million freight tonnes. While exports were up, import volumes dropped 20% because of weaker demand in the agriculture feed and fertiliser sector.

Company chairman John Auld says the port’s mix of trade reflected the continuing volatility in international commodity prices.

“The longer term outlook for Port Taranaki’s trade continues to be a challenging one as there are mixed views on a recovery in international dairy and oil prices.

“But we remain committed to providing world-class logistics services for our customers and Taranaki businesses, and supporting our community through our shareholder the Taranaki Regional Council,” he says.

A final dividend of $2.462 million was paid to the Council in September 2016, which was 10% up on the previous year. An interim dividend for the 2017 financial year of $2.462 million was approved for payment at the end of February. The dividends substantially help to offset regional rates.

Port Taranaki is New Zealand’s only deep water seaport on the west coast, and Chief Executive Guy Roper says its variety of trade – from oil and gas to animal feed and logs – makes it a key strategic export port.

“Although we don’t have container trade here at the moment, we have the facilities and expertise to begin operations immediately.

“Our increase in exports and the range of goods we handle show that we have the ability to provide an important service to the container trade by being a feeder to New Zealand’s main container export ports.

“We will continue to seek solutions for export customers as we look to make a difference to the Taranaki region and the wider New Zealand economy.”

RECOUNT — Taranaki Regional Council's quarterly newsletter
Issue 104, March 2017