Wellington port operator CentrePort recorded strong profits last year on the back of a final settlement of earthquake insurance claims.

CentrePort announced that it achieved an underlying net profit of $11.9 million after taxes for the six months to December 31, 2018, and has declared an interim dividend of $2 million, which compares to a full year dividend of $2 million last year.

A recorded 22% increase in container volumes reflects the return to full service of the ship-to-shore cranes, which were out of action due to disruption caused by the Kaikoura earthquake.

“CentrePort has moved through the recovery phase from the Kaikoura earthquake and is now shaping the future of the port,” said Lachie Johnstone, chairman of CentrePort. “We are working with international experts, customers, and other stakeholders to deliver a regeneration plan later this year.

“The strong operational and financial performance of the business, as reflected in this result, provides the base from which we are forming strategies and implementation plans to take CentrePort forward.”

“Good progress was made on the three earthquake insurance claims,” added Derek Nind, CEO of CentrePort. ““CentrePort has transitioned from earthquake recovery to long-term development. The business is operating strongly and growing, which has it well placed as we develop plans for the future.”