SYDNEY Ports’ annual report shows it has seen a strong return for 2008-2009 financial year despite a difficult year in international trading.
According Sydney Ports, it made a profit before tax of $84.2 million for 2008-09 financial year which made up 7.7% of investment returns.
“While the global financial crisis had an impact on last year’s accounts, Sydney Ports is looking to the future, building capacity now in preparation for a world economy which will recover,” Sydney Ports CEO Grant Gilfillan says.
The annual report indicated the solid return was boosted by the record set by total container trading for the year.
“Full container exports grew by 14.9%, driven by higher exports of timber, cereals, machinery and transport equipment,” Gilfillan says.
He also commented on the Port Botany expansion project is well underway which will allow the placement of 216 counterfort units on the new wharf, while the Sydney Ports Operations Centre at Port Botany is nearing completion.
“Expanding the container facilities at Port Botany tells the world that Sydney will have the capacity to berth ships and handle cargo well into the future,” Gilfillan says.
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