Port of Melbourne Corporation delivers solid 2008-2009 results

The Port of Melbourne Corporation (PoMC), Australia, has delivered a solid financial performance, posting an operating profit after income tax of US$35.6 million in the twelve months ended June 30, 2009.

Revenue increased US$27.4 million to US$174.6 million while expenses, excluding finance charges, increased U$23.7 million.

The increase in expenses included additional asset depreciation of $12.9 million and a one‐off cost of $8.9 million to superannuation.

During the year, PoMC’s total capital expenditure of US$286.9 million included the Channel Deepening Project, together with the upgrade of existing berths, infrastructure assets and other capital projects including rehabilitation works at Swanson Dock.
 

Source: Baird Maritime