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Port of Tauranga Announces Record Profit

8:52am, 29 Aug 2012 | FLLYR

Port of Tauranga Announces Record Profit

Highlights
• Net Profit After Tax (NPAT) for the year to 30 June 2012 rose 26% to a new record of $73.5 million.
• Final dividend of 27 cents per share (bringing total dividend payout to 39 cents per share - up 26 percent).
• Total container volumes through the Port increased 35% to 796,024 TEUs.
• Trade volumes rise 20% to 18.5 million tonnes from 15.4 million.
• Log volumes up 11% to 4.9 million3.
• Dairy volumes up 126% to 1.33 million tonnes.
• Port of Tauranga celebrates the 20th anniversaries of listing on the New Zealand Stock Exchange and the establishment of Sulphur Point.

Financial Highlights
Port of Tauranga
12 Months to 30 June FY 2012
$M FY 2011
$M Variance
$M Variance
%
Revenue 227.2 185.4 41.8 22.5
Operating expenditure (112.9) (90.4) (22.5) 24.9
Parent EBITDA 114.3 95.0 19.3 20.3
Depreciation and amortisation (18.4) (17.3) (1.1) 6.4
EBIT 95.9 77.7 18.2 28.2
Net finance costs (10.9) (10.6) (0.3) (0.9)
Share of associate profits 12.2 10.8 1.4 13.0
Net profit before tax 97.2 77.9 19.3 24.8
Net profit after tax 73.5 58.4 15.1 25.9

Earnings per share 54.8c 43.6c 11.2c 25.7
Final dividend 27.0c 21.0c 6.0c 28.6
Total dividend 39.0c 31.0c 8.0c 25.8

FINAL DIVIDEND
27.0 cents per share
Record date: 21 September 2012, payment date 5 October 2012

Full year result announcement – refer attached