For the management and the Ports of Auckland team this has been a busy year rebuilding container volumes following last year’s record performance, continuing our productivity improvements and advancing a range of strategic initiatives that we believe are necessary to continue to achieve our objectives.
Revenue from on-going operations was up slightly to $215.4 million from $211.0 million the year before, reflecting the increased volumes in all areas. Total group revenue was $218.3 million, down from $221.2 million the year before, reflecting the sale of our subsidiary Conlinxx part way through the year.
However a number of factors have contributed to increased costs and a lower profit. $7.3 million was provided to cover costs and provisions for the Bledisloe Wharf extensions and there was a further $4 million for wharf and building demolition, including the demolition of Marsden Wharf and part of ‘Shed 1’ to make way for the new Holcim cement dome. $2.4 million in voluntary severance payments was made to staff who left the port after the settlement of a collective agreement with the Maritime Union. The settlement has facilitated a rearrangement of duties which has improved productivity.
revenue from on-going operations