Port reports higher surplus
Northland Port Corporation has reports a slight increase in its surplus as export log volumes grow.
The port made a $3.6 million surplus in the six months to December, 15% more than the $3.1 million during the previous year. Revenue rose $740,000 to $4.92 million.
The port said the improved result is due to its associate company, Northrop, handling more logs, with volumes up about 11%, to more than 1.543 million tonnes
Chief executive Graham Wallace said the increase is putting pressure on storage capacity and expansion plans are a focus.
An interim dividend of 4.5 cents per share will be paid on 22 March.
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