Lyttelton’s strong half, new Tauranga director

SHRUGGING off the effects of late-2025 industrial disruption, Lyttelton Port Company has turned in record half-year results, with revenue, profit, and earnings all reaching their highest levels and showing strong improvement on the previous year.

LPC said the result highlighted the strong growth in bulk imports and exports in the first half underpinned by disciplined cost management, with the port continuing to deliver higher returns in support of its future development.

Total revenue for 1H 2025-26 was NZ$108.5 million, up $7.7, or 7.6%; NPAT was $14.6m, up $2.3m or 19.2%; EBITDA was $35.8m, up $4.8m or 15.4%; and expenses were $72.7m, up $2.9m, all year-on-year.

Bulk cargo’s strong performance in the first six months amounted to 13% year on year and well ahead of previous results, while container numbers were slightly down to 208,829 TEU 4% less than the same six-month period last year.

Refrigerated exports continue to grow despite a slower dairy season, and full import container volumes also rose slightly. Second-half TEU volumes are expected to be significantly higher, on the back of a busy export season.

LPC CEO Graeme Sumner said the results were another step on the road towards a financially sustainable organisation.

“This growth demonstrates the ongoing resilience of our bulk operations and the important role the port continues to play in supporting Canterbury’s and the South Island economy,” Mr Sumner said.

The main drivers of the increase in expenses were payroll changes following the restructuring of container terminal operations and planned investment in digital projects.

“Our cost base remains carefully managed and aligned with the future needs of the organisation,” Mr Sumner said.

Meanwhile, Port of Tauranga has appointed Ken Shirley to the Board of Directors, replacing Doug Leeder as a Quayside Holdings’ appointee. Quayside, the investment arm of Bay of Plenty Regional Council, currently owns 54.14% of Port of Tauranga shares.

Mr Shirley has been a BoP regional councillor since his election in 2022 and PoT chair, Julia Hoare, said he brought decades of leadership experience across public policy, industry advocacy and executive governance.

He served as Minister of Fisheries and Associate Minister of Agriculture, Forestry and Health during his time as a Member of Parliament, and has held several executive roles, including chief executive of organics Aotearoa New Zealand, Medicines New Zealand, the New Zealand Forest Owners Association and the Road Transport Forum.

His role at the Road Transport Forum involved leadership in the multi-modal freight and logistics sector at national and international levels, including liaison with port companies, Ms Hoare said.

Ms Hoare also thanked Mr Leeder for his ten years’ tenure on the PoT board.