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Ports Authority recorded TOP$2.2 million net profit after tax in 2016

 

Radio & TV Tonga, Nuku’alofa, 04/04/2017

Ports Authority LTD recorded a total income of TOP$10 million at the end of 2016 a 6% rise from the budget provided.

A 13% increase from 2015 in which they collected TOP$9million.

The annual report of the public enterprise for 2016 showed increasing number of ships calling at the port of Nuku’alofa with many cruise ships docking at Vuna wharf as evidenced in the favorable financial performance.

The Matson and Polynesian Shipping lines are bringing straight cargo from the United States to Tonga and have also contributed to the successful year of the board.

The increase in number of ships and cargo arriving in the kingdom are due to large infrastructures of Saint George’s palace, Domestic wharf amongst other construction.

CEO of Port Authority Mosese Lavemai says, TOP$2.2 million net profit after tax recorded last year makes it possible to pay a TOP$1.6 million dividend to government.

He added the next three years predicts more favorable results.

© Radio and Television Tonga News