Photo: RNZ / Nate McKinnon
Lyttelton Port Company has delivered record earnings and profit in the first half of its financial year, thanks to strong growth in bulk imports and exports.
Total revenue was $108.5 million for the six months ending 31 December, an increase of 7.6 percent on the same period last year.
Operating earnings (EBITDA) rose 15.4 percent to $35.8 million, while net profit after tax increased 19.2 percent to $14.6 million.
Bulk cargo volumes rose 13 percent year-on-year in the first half.
LPC chief executive 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," he said.
"Our cost base remains carefully managed and aligned with the future needs of the organisation."
Lyttelton Port Company is 100 percent owned by Christchurch City Holdings, the investment arm of the Christchurch City Council.
The port reported no significant health and safety events in the six months to the end of December.
Sumner acknowledged staff for their professionalism and commitment, saying their work continued to underpin the port's safety and success.
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