FROM 1 July-30 September 2019, Port of Tauranga handled nearly 6.8 million tonnes of cargo, a 1.1% decrease on the same period last year.
Log exports dropped 5.2% in volume to just over 1.7mt, following a sharp decrease in international prices and demand in the past few months.
Dairy product exports decreased 1.7% compared with the same period last year.
However, container numbers increased overall to more than 312,000 TEU, a 5.8% increase on the first quarter of last financial year.
Transhipments, where a container is transferred from one service to another at Tauranga, increased 9.2% to more than 92,000 TEU.
Port of Tauranga chief Mark Cairns, told the company’s annual meeting of shareholders that the unaudited group net profit after tax for the first quarter was $21.7m, down 6.3% from $23.2m in the previous corresponding period.
“Based on the first quarter’s performance, and notwithstanding any significant market changes, we expect full year earnings to be between $96 and $101m,” Mr Cairns said.
“This is the same guidance we gave at last year’s annual meeting for this year’s record result.”