A diversity of cargoes and income streams providing protection from the cyclical nature of demand and price are behind The Port of Tauranga's latest figures.

Their annual results reported that net profit after tax is up one per cent to $79.1 million, while trade volumes for the year are up two per cent to 20,179,078 tonnes and container throughput is up 12 per cent to 851,106 20-foot equivalent units.

Profit and trade are up at the Port of Tauranga. Photo: File.

Reflecting its confidence in port's prospects, the board today declared a fully imputed final dividend of 30 cents per share, taking total dividends for the year to 52 cents per share - up four per cent on last year's full year dividend.

The record date for entitlements is September 18 and the payment date is October 2.

This year's profit is up from $78.3 million over the same period last year, with traffic flows from the company's expanded freight catchment offsetting falls in log exports across its Tauranga wharves.

Port chairman David Pilkington says: 'The lower global prices for dairy products and log exports we are now seeing will have some impact on volumes in the coming financial year.

'But we believe strong demand for other export cargoes, including meat and kiwifruit, will help offset decreases.

'The diversity of Port of Tauranga's cargoes and income streams, its strategic partnerships and Tauranga's growing importance as a trans-shipment hub also provide protection.

'In addition, all cargo volumes, container and bulk, will ultimately benefit from the cost savings that will follow the introduction of larger ships.”

The port's five-year, $350 million programme to expand its freight hinterland and develop the infrastructure to support visits from next generation 6,500 TEU ships has underpinned the company's financial performance.

The programme includes the development of freight marshalling facilities across New Zealand as well as significant port infrastructure investment, and has delivered increases in freight to the port from outside of our traditional catchments, says David.

'These traffic flows will continue to grow and will underpin the arrival of the large vessels,” he adds, 'the first of which is due in port next year soon after we have completed the dredging of the Tauranga harbour channel.”

Port of Tauranga remains confident of continued growth for the 2016 financial year as New Zealand's freight continues to consolidate on its wharves, says chief executive Mark Cairns.

'The forecast $300 million annual transport costs savings that will come with the arrival of the new 6,500 TEU ships will provide a significant offset to cyclical downturns such as the one the New Zealand dairy and forestry sectors are now experiencing,” says Mark.

'We are entering a new era for New Zealand shipping and Port of Tauranga is positioned to be at the forefront of developing New Zealand's routes to international markets as the country's port for the future.”