New Zealand’s leading container operator saw total container volume decline 8.9 percent in the last six months of 2012.
Volume handled at Ports of Auckland totaled 413,884 20-foot-equivalent units, down from 454,234 TEUs a year earlier. Full import and export containers were 5.4 percent and 9.2 percent lower, respectively, than the same period of 2011.
Breakbulk volumes including vehicles increased 6.5 percent year-on-year in the six-month period to over two million metric tons.
The lower volumes led to a 16.5 percent drop in net profit after tax to NZ$15.5 million (approximately US$13 million) for the six-month period, despite the operator cutting costs by 1.9 percent year-over-year. Port operations revenue declined 5.8 percent to NZ$90.1 million (approximately US$75.4 million) for the period.
“The revenue decline is due to reduced container volumes, and also from the absence of one-off gains in the previous year for Rugby World Cup and Rena salvage operations,” the company said.
Auckland International Airport, however, saw far better growth. It reported a 11 percent rise in first-half profit over the same period the year before and benefited from its stakes in two Australian airports and a facility at the tourist center of Queenstown.