Ports of Auckland has reported its latest results, posting a net profit of $37.2 million for the year to June 30.

The result was assisted by the recovery in the vehicle trade, with vehicles handled rising 17.4%  for the year to 129,811 units.

The strong profit was up from $5.4m in the previous financial year.

Managing director Jens Madsen says close management of costs (down 3.1% to $113.8m) and improved container volumes through the port contributed to the strong financial result. Overall container volumes reached a new high of 867,368 TEU (twenty foot equivalent units), up nearly 3%, while full import volumes were up 4.2%.

There's hope for better business for vehicle dealers in the months ahead - according to a new national survey of 1000 businesses.

After a spate of mostly dismal economic news in recent weeks, at last there is a positive survey that shows signs that business is picking up.

A survey of owners of small and medium businesses has found nearly a third reporting a rise in revenue during the past 12 months.

Nissan has released details of a facelift to its mid-sized X-Trail SUV.

The update includes a refresh of exterior styling; improves the interior perceived quality and functionality and adds mechanical and aerodynamic changes. Nissan claims economy and emissions performance are improved.

External changes include a redesigned grille, headlights and bumper assembly.

Wheels are now larger, with a new ten-spoke 18 inch alloy wheel design which is also wider, now up to 225/55R18 in size. A 17 inch alloy wheel is fitted to some variants, a new design featured for the 2011 model.

Grey importing has its positive sides according to the head of the Motor Industry Association.

In our latest Autotalk magazine (download here), we reported on the case of grey import new Jaguar models being sold at significantly below the newly released official price.

“Each distributor has their own position, but as an association we have no issue with with the governments position on allowing parallel imported vehicles,” says MIA chief executive Perry Kerr. “And it has been that way since day one of the new rules.”

“It is actually a very good tool to have when negotiating pricing with manufacturers,” says Kerr. “That is why in many cases we have Japanese domestic prices on vehicles.”

The dealer business manager that pleaded guilty to defrauding $1.3 million dollars has been sentenced to four years in prison for what the judge called a “huge web of deceit.”

Michelle Campbell was convicted in May of 60 charges of using a document for pecuniary interest, five theft charges over $1000 and two charges of theft over $2000 from her employer Ebbett Holden in Tauranga.

The 43-year old mother became emotional before Judge Thomas Ingram handed down the sentence, according to the NZPA.

Listed vehicle dealer Colonial Motor Company posted its preliminary profits for the year to June 30, recording a 12.5% fall in operating profit.

Trading profit fell from $7.002 million last year to $6.130 millon.

Because of changes in reporting practices and property revaluations, the company reported a net loss for the year of $1.24 million.

Marac parent company Pyne Gould Corporation has announced it expects to report a net profit ahead of expectations.

Profit for the year to June 30 will be $22 million, ahead of a forecast of $20.9 million.

PGC’s press release noted strong contributions from Marac's vehicle finance operations among its investments.