Thursday saw New Zealand's Port of Tauranga Ltd posting a 7 percent rise in full year net profit. A net profit after tax of NZ$45.2 million ($30.5 million), for the year to June
30, was reported by the company - which is New Zealand's biggest export port - compared with NZ$42.1 million net profit figures last year.

A survey conducted by Reuters has found that analysts hoped to see a net profit of NZ$43.1 million.

A dividend of 16.5 cents per share was forwarded by the company, compared with 16 cents last year.

According to the port, the climate for 2010 remains tough, however it is well positioned to ride out short term uncertainty.

The shares of Port of Tauranga, which are 55% owned by a local council, last traded unchanged at NZ$6.55. A source said: "The stock has risen around 1 percent so far this year, compared with a 14 percent gain in the benchmark NZSX-50 index .NZ50."

A proposal from the Ports of Auckland was rejected by the company in February; which pertained to the merging of the respective container businesses of the two companies.