The parent company of Ports of Auckland is confident of its future, despite its slide in proft and heavy indebtedness.
The company's full year profit has dropped 74% to $5.5 million in the year to the end of June, as a decline in car imports hit its bottom line.
Underlying profit fell 29% to $15.7m.
In response to the fall in revenue, the port increased productivity and raised $70 million from its owner Auckland Regional Holdings through new shares and loans.
Auckland Regional Holdings chair Judith Bassett, says the port has also reduced costs and debt.
Ports of Auckland managing director Jens Madsen, says the company took a $5m hit during the year due to fewer car imports, though the container business - the bulk of the company's activity - has been faring well.
Mr Madsen says the company is focused on creating new revenue streams to see it through the downturn.
