Quayside Half Year Results - 31 December 2025
06/03/2026 09:16 NZDT, HALFYRP
Quayside Holdings Limited is pleased to present the results for the interim period ending 31 December 2025. Group Net Profit after Tax (NPAT) for the six months was $100.3 million (2024: $68.2 million), an increase of 47.1%. The performance of the Group is comprised of the result from the ‘Port of Tauranga Group’ (Port segment) and the ‘Quayside Group’ (Investing segment) as follows:
Port of Tauranga Group Performance
Port of Tauranga Group profitability increased for the six months ended 31 December 2025. The Group reported profit for the period of $70.2 million, which is $10.0 million (17%) higher than the prior corresponding period. Operating revenue increased by $19.1 million (9%), driven primarily by higher terminal revenue at the parent level.
Operating expenses increased year on year, with employee benefit expenses rising by $2.0 million (6%), reflecting higher staffing levels and general pay increases across the Group. Cost pressures were also evident in maintenance and IT related expenses, partly offset by lower rail costs following a change in cost responsibility during the period. The share of profits from equity accounted investees increased by $1.4 million (42%) compared with the prior year.
The Port has declared as a subsequent event, in its 31 December 2025 interim accounts, a fully imputed interim dividend of 8.0 cents per share, providing Quayside for future cash flow of $29.5 million.
Quayside Group Performance
Excluding the Port of Tauranga segment, the Group reported a net profit after tax of $30.1 million (2024: $8.0 million) for the first half of the year. The Investment Portfolio contributed a $34.9 million gain, partially offset by losses of $0.5 million in Special Purpose Assets and unallocated corporate costs of $4.1 million.
Performance was primarily driven by $35.9 million of unrealised gains (2024: $21.5 million), offset by a $2.8 million overhang write‑off recognised in trading and other expenses (2024: $10.5 million). The listed assets portfolio was the main contributor, generating unrealised gains of $28.3 million, with managed private equity contributing a further $7.1 million.
During the period, Quayside Holdings Limited paid $4.7 million in dividends to Perpetual Preference Shareholders in accordance with the prospectus. Net dividends of $24.0 million were paid to the Bay of Plenty Regional Council (2024: $23.5 million), consistent with the current Statement of Intent.
Lyndon Settle
Chief Executive Officer
lyndon@quaysideholdings.co.nz