Thursday 13th Dec, 2018

Wellington port’s half-year results show fast recovery from 2016 earthquake

Photo: Nick Servian and Centreport
Photo: Nick Servian and Centreport

WELLINGTON’S CentrePort announced cargo throughput in its key trades saw strong growth over the first half of this financial year as recovery from the 2016 Kaikoura earthquake continues.

The Port reported its net profit after tax for the six months ending 31 December totalled $4.9m. Its gross revenue was $34m for the period, which was ahead of plan, with the port citing a fast recovery of the container trade, which is at pre-earthquake levels.

CentrePort chairman Lachie Johnstone said the company had bounced back from the worst impacts of the earthquake and was investing in resilience and regeneration of the business for future growth.

“It’s been a case of sure and steady as we realise further insurance income to help us plan for our long-term future,” he said.

“We provisioned $63m last financial year for strengthening Port land and are continuing to develop our Port Master Plan, while also managing environmental impacts through recycling of demolition materials.”

CentrePort acting chief executive Anthony Delaney said it was pleasing to get the business back to pre-earthquake levels, while working in a changing and demanding environment.

“We’ve had to adjust to a lot of change and disruption. Our team and partners have embraced the challenge to keep people and freight moving safely and efficiently through the Port,” he said.

Mr Delaney said the impact of the Kaikoura earthquake had underlined the importance of the Port as a strategic asset for the country, particularly in a natural disaster.

“The importance of the need to build resilience into our business and assets so we can keep essential goods and services flowing into the Capital and central region continues to be highlighted,” he said.

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