Record cargo volumes have boosted profits at South Port in Bluff.
The port company made $6.3 million in the year to the end of June, more than double what it did a year earlier.
When one-off tax adjustments are stripped out, underlying profit rose 15% to almost $6 million.
Revenue rose more than 11% to $25.1 million and cargo volumes reached a record 2.64 million tonnes.
But after strong cargo growth for the last three years, the port expects a period of consolidation in 2012, especially with the strong New Zealand dollar, weakening dairy prices and debt problems in Europe and the US.
It expects profits to fall between 15% - 20%, as its new crane depreciates and insurance costs rise.
South Port has declared a final dividend of 14.5 cents per share, taking the total dividend to 20c - up from 17c last year.
