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Port of Auckland set to deliver stronger than expected profits this financial year

Port of Auckland provides earnings guidance as part of its Statement of Corporate Intent (SCI) agreed with Council and is today providing an update to that guidance.

The port company had indicated an earnings expectation of $52 million in its SCI for FY24 but today announced an earnings upgrade to a range of $52-55 million.

Port of Auckland Chair Jan Dawson is pleased that the port is continuing to deliver positive results.

"I'm delighted to confirm that the port is on track to deliver above initial earnings expectations. The team have worked hard in a challenging economic environment" she says.

"With the increase in earnings, we also reaffirm our commitment to return at least $35 million in dividends to Council for the current financial year. 

Whilst the market has been affected by economic headwinds and industry volumes have softened, Port of Auckland has bucked the trend and seen an increase in container trade market share, alongside safety and performance improvements and the benefits of a strong cruise season.

Chief Executive Roger Gray says it's crucial that the port delivers for Auckland.

"Port of Auckland plays an important role in the economy and supply chain. We are essential for many businesses, and we contribute to Council via our dividend. When we do well, so do others." he says.  ​

Media Release_FY24 guidance update_April 2024.pdf