CENTREPORT Limited has ended the first half of the new financial year with a profit.
The Wellington port company says it will have an unaudited underlying profit of $6.7 million for the first half of the financial year.
It is an increase of more than 50% on the same period.
It has also increased revenue by 10.5% to $51.1 million.
CentrePort board chairman Lachie Johnstone said the results were pleasing.
“It’s a good position for CentrePort to be in, demonstrating our continued focus on efficiency, asset utilisation, safety and having a customer-centric approach is paying off,” Mr Johnstone said.
CentrePort CEO Anthony Delaney was also pleased with the results but was cautious about the remainder of 2024.
“We are aware of the domestic and international pressures that we, and others, will face. This means there’s no room for complacency in how we conduct ourselves and how we look for solutions for our customers,” he said.
Mr Delaney said CentrePort was clear on what it needed to do to manage or mitigate the expected headwinds.
“We’ve been through many recent challenges,” he said.
“Our approach continues to be to focus on what we can control – reducing waste, focusing on creating more efficiency, and ensuring we maintain the level of service we are applauded for by our customers.”
Cargo volumes are currently stable, but flat compared to the same period in the last financial year.
Mr Johnstone said CentrePort would continue to work with the government, the new ministerial advisory group, Cook Strait Ferry operators and other stakeholders to consider a way forward for Cook Strait ferry services following the cancellation of the iReX project.
CentrePort says it also wants to continue to be recognised locally and internationally by its customers for leading the way in New Zealand to lower its emissions and Scope 3 supply chain related emissions.
A new fuel bunker barge has arrived and is in service, providing conventional fuels initially.
It is expected the barge will enable alternative fuels to be supplied to shipping lines.
The company says plans are on track for solar arrays to be installed at the port for onsite electricity generation.
They are due to be installed by mid-2024.
CentrePort says there’s progress on the Seaview Wharf Renewal project, which will protect assets integral to the fuel supply for Wellingtonians and the rest of the lower North Island.
The port’s ground resilience project, reinstating and repairing the perimeter of the port affected by the Marlborough earthquakes has also been completed with the last stone column installed in late December.
