The Port of Melbourne has posted a record throughput of 87 million revenue tonnes for the 2011-12, recording an increase across all cargo types.

 

State Minister for Ports, Dennis Napthine, welcomed the results, saying it sets a strong foundation for the forthcoming $1.6 billion Port Capacity Project upgrade.

 

“This includes 2.58 million twenty-foot equivalent unit (TEU) container movements, increasing from 2.39 million TEU the previous year,” Dr Naptine said.

 

The Port of Melbourne Corporation (PoMC) recorded an underlying profit of $59.2 million. PoMC’s annual report shows a reported profit after income tax of $99.8 million in 2011-12 which was influenced by two abnormal adjustments – the accounting treatment applied to an asset transfer from the Department of Transport to PoMC and an increase in the liability associated with a PoMC related Defined Benefits Superannuation Scheme.

 

“The underlying profit result of $59.2 million is a great outcome and I congratulate PoMC Chairman Mark Birrell, Chief Executive Officer Stephen Bradford and the whole team for this terrific achievement,” Dr Napthine said.

 

Finance summary 2011-12

  • $59.2 million underlying profit increasing from an equivalent $39.3 million the previous year.
  • $33.6 million invested in capital works.

 

Trade summary 2011-12

  • Total trade up 9.1 per cent to 87 million revenue tonnes.
  • Total container throughput up 7.8 per cent to 2.58 million TEU
  • Full container exports up 9.8 per cent

Full container imports up 7.1 per cent