Port Nelson has reported an underlying net profit after tax of NZ$ 12.7 million for the year ended June 30, 2026, supported by strong cargo throughput of 3.8 million tonnes and revenue of NZ$ 96.3 million, 15% ahead of the prior year. The board has declared a dividend of NZD 6.5 million to shareholder IHL, owned by the Nelson City and Tasman District Councils. The strong underlying result was significantly driven by a 66% increase in log exports following the 2025 windthrow events, alongside solid performance in wine, fertiliser and kiwifruit. Softer volumes in apples and sawn timber offset some of these gains and highlighted the ongoing importance of revenue diversification. Despite the positive operational result, Port Nelson reported a total comprehensive loss of NZ$ 31.5 million following an annual asset revaluation that reduced the carrying value of port assets by NZ$ 51.0 million. The revaluation reflected an expected reduction in future cargo volumes, including lower log volumes following the early harvest of windthrow timber, and was also impacted by higher than expected capital expenditure associated with the completion of the slipway redevelopment project at Calwell. Chair Jon Safey emphasised that the revaluation does not affect day-to-day operations, cashflow or the port’s ability to continue investing in its infrastructure and the region. The year also saw a 44 percent reduction in Scope 1 and 2 emissions compared to the FY2019 baseline, strong demand for Calwell’s redeveloped marine haul-out and maintenance facility since opening, and a major overhaul of the port’s critical risk safety programme. Chief Executive Matt McDonald acknowledged that cargo volumes and underlying profitability are expected to reduce from this year’s levels as forestry volumes normalise and economic conditions remain uncertain, while expressing confidence that continued growth in QuayConnect, Calwell and the commercial property portfolio, alongside inves