Port Otago reports substantial profit
NewsPort Otago’s 2023/24 financial report reveals a 30% increase in net profit, reaching NZ$ 30.4 million (US$ 19 million), driven by four core business units.
This year is widely expected to be a record for big trucks, particularly as many customers who were watching the market last year are now purchasing. There also seems to be a trend towards larger single contracts, often with staggered delivery dates. Earlier in the year, for example, the Ganzhou-Lyonyang Railway in China tendered for two contracts for 20 and 16 machines respectively. Another very large order for Iraq, for 31 machines, is believed to be in the pipeline.
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