BAY BUSINESSES ON TRACK TO RECORD PROFITS 19/09/2011
Business in the Bay of Plenty is thriving as highlighted by the record profit success of 3 of our largest businesses. Port of Tauranga has strengthened its position as the country’s largest port after reporting a rise in trade and a record net profit after tax of $57.9 million. This is a 17.2% increase on the back of an increase in trade volumes of 12.4%. Container volumes have risen by 15% and container transhipment volumes rose 52%. The increase in trade volumes included 78% more international volume and more than three times the export volume of Port of Tauranga’s nearest competitor.
Mount Maunganui-based Ballance Agri-Nutrients, the country’s largest fertiliser producer, has reported a record profit following a strong year for the agricultural sector. The company which is a 100% farmer-owned cooperative, had an operating profit of $85.9 million for the 2010/11 financial year, tripling last year’s result.
Honey product company Comvita is reporting sales growth of 18 percent more in the last six months than in the six month period ending September 30, 2010.
Small business with high-value products are also standing out. Heilala Vanilla’s recent feature on Country Calendar has generated huge publicity nationwide for its pure vanilla growing and processing story. This can be viewed through the following link: http://tvnz.co.nz/country-calendar/s2011-e26-video-4381396