New Zealand's Port of Tauranga reported a 23 percent rise in first half profit as cargo volumes picked up.

Port of Tauranga's net profit after tax was NZ$28.4 million ($21 million) for the six months to Dec. 31, compared with NZ$23.1 million a year earlier.

The company, which is New Zealand's biggest export port, declared an 11 percent increase in interim dividend to 10 cents per share.

Port of Tauranga said it expected to post a full year result in the range of NZ$53 to NZ$56 million.

It said container volumes were up 25 percent on a year ago, while profit for the first quarter was up 10 percent. (Reuters)