Port of Tauranga has announced after-tax earnings of $49.403 million for the year ended June 30, 2010; a 9.3 per cent increase on last year.
The figure was earned on revenue of $148 million, up $4.4 million on the previous year, following the company's decision to defer an increase in tariffs during the year.

Port of Tauranga has announced a strong profit for the year ended June 30, 2010.

The Port of Tauranga's diversity of income streams and cargoes, together with a strong focus on controlling costs, has helped shield it from turbulent economic times, says Port of Tauranga chairman, John Parker.
"I am very proud to be able to report earnings growth in 2010 in what are still difficult trading conditions," says John.
As announced in June 2010, an unusual item of $10.5 million was incurred due to a significant change to New Zealand taxation law, and also a $2.35 million impairment to asset values which resulted in a net profit after tax of $38.016 million.
Total trade for the year was up 2.4 per cent to 13.748 million tonnes, comparing favourably with last year's slight decrease in tonnage of 0.5 per cent. Exports increased more than eight per cent to 9.19 million tonnes.
Forestry-related exports increased by nearly 20 per cent to 6.04 million tonnes.
Grain and dairy food supplement imports also increased by 27 per cent to 849,000 tonnes. Container volumes were dropped by 6.5 per cent, mainly as a result of rationalisation of services through shipping line mergers.
Port of Tauranga significantly increased its market share in total cargo volumes to cement its position as New Zealand's largest port.
Statistics New Zealand data for the year ended 30 June 2010, shows Tauranga handled about 80 per cent more international cargo than nearest competitor Port of Auckland, up from 56 per cent on last year, and three times the volume of exports.
Income from Associate Companies increased 62 per cent or $3.15 million on last year, largely driven by the impact of forestry-related exports on Northport and C3 Limited. Port of Tauranga bought Auckland-based Tapper Transport in March 2010.
John Parker says the company continues to have one of the lowest costs of funds of any listed company in New Zealand, having renegotiated debt out to 2013-2015 at very favourable terms, despite the current economic climate.