Sharechat Logo

POT cooks up great recipe for shareholders

Friday 22nd August 2003

Text too small?
Port of Tauranga has consistently delivered the goods for its shareholders during the past 10 years and should turn in another strong result next week.

Sharebroker ABN Amro predicts a record profit of about $28.3 million, up from $25.9 million last year.

The shares have been on an upward trend since 1998, peaking at $4.65 in January before dipping slightly to around $4.40, largely because of the Sars scare.

The company, last week judged best port in Australasia, has consolidated some bold expansion beyond its Bay of Plenty base to have good exposure to maturing forests and strong cargo volumes.

The 2001 acquisition of cargo handling and storage company Owens Services is starting to bear fruit with operations at 11 ports around the country and a 50:50 joint venture at Marsden Point's Northport is also performing well.

Port of Tauranga is the country's principal log port, servicing the forestry estates of the central North Island. It moves about 350,000 TEU (20 foot equivalent) containers a year and has the lowest container handling charges of all its main competitors.

The company pioneered inland ports in New Zealand when it launched Metroport in Auckland three years ago. Since then its TEU traffic has more than doubled.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

The customer is always right
The modern era of globalisation is in danger
SeaDragon delisting announcement
Kiwi Property reports 2020 financial results
Plexure powers ahead with record revenue growth and profit
Metlifecare substantial shareholders support court action to enforce sia
Fonterra provides performance and milk price updates
Millions of Newly Jobless in China Pose a Looming Threat to Xi
Strong seasons set up venison industry to weather Covid-19 storm - industry analyst
Soaring Silver Attracts Investors

IRG See IRG research reports