A RECORD YEAR

RECORD PROFIT $8M AFTER TAX. TOTAL ASSETS $345M. BEST EVER REVENUE $72.9M. RECORD VOLUMES THROUGH PORT OVER 1,500,000 JAS/TONNES. 134,600 PASSENGERS THROUGH GISBORNE AIRPORT. ALL BUSINESSES IMPROVED OPERATIONAL (EBIT) EARNINGS ON PREVIOUS YEAR. $4.2M OF DIVIDENDS AND $2.6M OF INTEREST ON CAPITAL NOTES PAID TO SHAREHOLDER. NEW GENERATION PROJECTS EITHER OPERATIONAL OR UNDER DEVELOPMENT.