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Northland Port Corp profit rises as log volumes rise

NZPA

Friday 26th August 2011

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Northland Port Corp has reported a rise in profit due to buoyant log volumes and is trying to revive its property activities.

The after-tax surplus of $4.727 million for the year to June 30 was up from $3.134 million in the same period last year.

The company is leasing land to associate company Northport for log storage as the port has run out of storage space for logs.

Planning is also under way to locate all log scaling and truck queuing outside the port gates. This will provide a productive use for another area of the industrial land as well as relieving congestion in the port area.

"The uptake of the company’s industrial land holdings continues to be disappointing with prospective tenants being reluctant to commit to capital expenditure in such an uncertain economic climate," the company said.

A business development manager has been engaged to promote the port and implement Northland Port’s property strategy.

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