“OUTSTANDING returns to shareholders” at Port of Tauranga have seen chief executive Mark Cairns win a leadership award.
Mr Cairns received the Caldwell Partners Leadership Award at the 2019 Institute of Financial Professional Awards.
The awards are said to recognise innovation and excellence in the financial and capital markets sector.
The judging panel noted Port of Tauranga’s excellent productivity rates, safety record, rising cargo volumes and shareholder returns that have compounded by an average 20.4% since Mr Cairns took over.
The company’s market capitalisation has grown more than six-fold to NZ$4 billion since Mr Cairns was appointed chief executive in 2005.
Mr Cairns said the accolade was one to be shared by the port team.
“It recognises the extraordinary efforts of a fantastic bunch of people working at Port of Tauranga,” he said. “I am proud to accept this award on their behalf and I am privileged to lead a company that has achieved so much.”
Port of Tauranga reported handling almost 24.5m tonnes of cargo, including almost 1.2m TEU and producing a record group net profit after tax of NZ$94.3m.
“Our expansion programme to accommodate larger vessels, coupled with New Zealand’s buoyant economy, has resulted in the 10.2% increase in cargo volumes,” Tauranga management stated. “Revenue increased 10.9% to $283.7m.”