27 Feb 2013

Port reports higher surplus

7:12 am on 27 February 2013

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.