Sydney Ports Returns Solid Results for 2008/09

Despite a difficult year in international trade, Sydney Ports Corporation has recorded another strong financial result, with a profit before tax of $84.2 million for the 2008/09 financial year. Chief Executive Officer of Sydney Ports Corporation Grant Gilfillan, in releasing the Corporation’s annual report, said the profit result represented a return on investment of 7.7 per cent.

“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,” Mr Gilfillan said.

The annual report shows that:

• Total revenue was $207.0 million. Total expenses, excluding finance costs, were $112.1 million and net profit after tax was $59.2 million;
• Sydney Ports paid income tax equivalent of $49.3 million which, under the National Tax Equivalent regime, was paid to NSW Treasury; and
• During 2008/09 cash dividends of $20.2 million were paid, pertaining to the year ended 30 June 2008.

For the full media release, click here.