26 Aug 2011

Northland Port profit up

12:37 pm on 26 August 2011

Port of Northland has lifted its profit to $4.7 million in the year to the end of June, compared to $3.1 million a year earlier.

Revenue rose from $260 to $329 million.

Chairman Geoff Vazey says the larger surplus was due to improved trading and buoyant log volumes at Northport, an associated company.

Cargo volumes throughout the port rose by 400,000 tonnes to 2.4 million.

It will pay total dividends of 6.5 cents per share, compared with 5.5c a year ago.