Port of Tauranga ( (PTAUF) ) has released its Q2 earnings. Here is a breakdown of the information Port of Tauranga presented to its investors.
Port of Tauranga Limited is New Zealand’s largest port, providing a vital link between New Zealand and international markets, with a focus on efficient and low-carbon operations. In its latest earnings report for the six months ending December 2024, Port of Tauranga reported a robust financial performance, with a 27.4% increase in Group Net Profit After Tax to $60.2 million, alongside a 6.9% rise in total trade volumes. The company also declared an interim dividend of 7.0 cents per share, up from 6.0 cents. Key highlights from the report include a significant increase in container volumes by 10.2% to 591,934 TEUs and a rise in total operating revenue by 12.5% to $225.0 million. Despite a decrease in log exports, other export commodities and bulk cargo volumes saw steady growth, contributing to the overall positive performance. Strategic initiatives such as the automation of container operations and the expansion of berth capacity at Sulphur Point are expected to enhance efficiency and throughput. Looking ahead, Port of Tauranga anticipates continued recovery from economic downturns, with a projected increase in underlying Group earnings for the 2025 financial year, reflecting steady demand for New Zealand exports.