Napier Port. Photo: Supplied / Napier Port
Napier Port says it has had a highly successful year, with significant progress on its strategic goals.
To the year ended September, Napier Port has posted a net profit of $18.6 million.
It fell $3.4m on the previous year, reflecting a drop in cargo volumes and rising costs, which were partly offset by price gains.
The underlying net profit was $18.6m, down from $22m.
Revenue rose 4.6 per cent to $114.5m from $109.5m.
Total tonnage shipped across Napier Port wharves was 5.9 tonnes, down 8.1 per cent on 2021. About 250,000 containers were handled during the year.
There were 203 ship calls at the port, a drop of 16 per cent.
Napier Port will pay a final dividend on 4.7 cents per share, taking total dividends to 7.5 cents per share, which was unchanged from the previous year.
Earnings guidance for FY2023 for an underlying result from operating activities has been set at between $42m and $48m.
Napier Port chairperson Alistair MacLeod said strategically it had been a highly successful year.
''We have made significant progress on our goals to continue to put in place the infrastructure and capabilities that will underpin the success of Napier Port and the economy of Hawke's Bay and the central and lower North Island.''
He said the centre piece has been the opening of a new wharf - Te Whiti.
''Through its opening we have delivered on the commitments we made when we launched our initial public offer and NZX listing in 2019. ''
Napier Port chief executive Todd Dawson. Photo: Napier Port
Chief executive Todd Dawson said the company had worked hard to balance the long-term interests of the region and Napier Port carefully, with a sharp focus on infrastructure management.
During the year the company issued $100m of unsecured, unsubordinated 5.52 per cent fixed rate bonds, maturing in March 2028.
MacLeod said Napier Port remained cautiously optimistic for the year ahead, however, there was no room for complacency within the current economic environment.