27 Feb 2009

Lyttelton Port half-year profit rises

7:31 am on 27 February 2009

The Christchurch port of Lyttelton has announced an increase in net profit of 16.2% to $5.66 million for the six months to December.

Revenue over the six months was $43.1 million, a 6.1% increase on the same period the previous year.

Chief executive Peter Davie says that is partly due to rising exports and imports increasing the number of containers being processed.

Shipments through the port of coal exports for Pike River and Solid Energy also rose 12.2%.

Mr Davie says the Canterbury economy remains strong, and the company is on track to achieve a full-year after-tax profit of about $10 million.

He says the company expects the next half year will be slower but is not sure by how much.