20 Aug 2010

Higher volume at port of Bluff

7:04 am on 20 August 2010

Improving cargo volumes have helped to lift South Port's underlying profit.

The company made $3.13 million dollars in the year to the end of June, down almost a quarter on the previous year.

But, once tax adjustments are stripped out, the port made $5.21 million, up from $4.12 million the previous year.

Revenue at Bluff rose almost 16% to $22.6 million.

Chairman John Harrington says container volumes grew more than 20% during the year.

Strong demand for forestry, dairy and other agricultural goods, combined with aluminium production from the Tiwai smelter, should underpin future cargo growth this year.

The port will pay a full year dividend of 17 cents per share, compared with 13.5c last year.