On the 1st July, 2014 the Broome Port Authority changed its name to the Kimberley Ports Authority (KPA) with responsibility for managing the Port of Broome and the waters and land at James Price Point.
KPA has, in consultation with the Department of Transport and the Operators in Derby, Wyndham, Koolan and Cockatoo Islands, continued a due diligence process of the ports amalgamation in line with Port Authority functions as prescribed in the Port Authorities Act 1999. It is anticipated that these ports will come under the umbrella of KPA on 1 July 2016.
KPA’s economic objectives were to employ sound financial management and to enhance trade. In achieving these goals, KPA aimed to achieve its set rate of return on assets, while providing the most cost-effective service to port users. The final result was a pre-tax profit of $3.3M, against a budgeted profit of $4.9M. The difference is attributed to a reduction in oil and gas revenue for the period and costs associated with the ports amalgamation process.
KPA’s rate of return for the period was 5.2% and KPA met its efficiency dividend requirements as set by government.
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