TasPorts' Annual Report was today tabled in Parliament highlighting a record profit.
TasPorts' Chairman Stephen Bradford said TasPorts delivered record revenue of $180 million against $168 million (FY2023) and a consolidated net profit of $18.1 million, delivering a record dividend to the Tasmanian Government.
Mr Bradford said the strong results were testament to TasPorts' disciplined project and fiscal management, particularly with significant investments underway into port infrastructure, including at East Devonport, which was delivered on time and under budget.
"QuayLink is a $240 million investment to upgrade the East Devonport port infrastructure. The project includes a number of work packages, some of which are being delivered by TasPorts, while others are being delivered by our exclusive port customers, including TT-Line and SeaRoad," he said.
"TasPorts' work package included the delivery of a new berth pocket, wharf structure and reclamation area at Berth 3E (Terminal 3), specifically designed for the new Spirit of Tasmania vessels. This major body of work was completed two days post the scheduled completion date on 8 July 2024, and under budget by 7%, for which the project team and contractors are commended.
"TasPorts stands ready to support its customers with the completion of works, including TT-Line's Terminal 3 to get the job done."
Mr Bradford said the strong result was reflective of TasPorts' ongoing commitment to customers, with a commercial approach aligned to objectives for ongoing investment in infrastructure for the benefit of Tasmanian industry, community and the State.
Mr Bradford's term as Chair is now concluding.
"Yesterday I advised the Premier that I will retire after nine fulfilling years," he said.
A replacement recruitment process is underway.
TasPorts FY2024 Annual Report can be accessed here.