11 Sep 2015

Auckland port pays out $41.7 million dividend

9:35 am on 11 September 2015

The country's biggest port is giving the Auckland Council a multi-million dollar pay-out, but the row over its controversial wharf extension has proved to be costly.

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Photo: 123rf.com

The council-owned Ports of Auckland has declared a $41.7 million dividend in the 2015 financial year.

Chief executive Tony Gibson said it had delivered another strong result for the city and was well positioned for further growth.

But Mr Gibson said $7.3 million had been put aside to cover costs and provisions for the Bledisloe Wharf extensions, following the High Court's decision to over-turn the consents granted by Auckland Council.

He said if the project had certainty, it would not have had to cover that expense.

"They haven't been a very happy experience, and in reality both our legal right to operate and our operational capability were in question. And the irony was that Ports of Auckland had followed due process and fulfilled all obligations in obtaining the resource consent."

Mr Gibson said the company was now focusing on the study looking at how the port needs to work in the future.

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