CentrePort turns to annual loss following Kaikoura earthquake

Thu, 12 Oct 2017

By Tina Morrison Oct. 12 (BusinessDesk) - CentrePort, the Wellington port operator, turned to an annual loss after damage from November's Kaikoura earthquake last year weighed on its business. The port company posted a loss of $2.3 million in the 12 months ended June 30, from a profit of $11.6 million a year earlier, it said in a statement. The year-earlier earnings were restated due to a change in the accounting treatment of convertible notes. Underlying profit before earthquake-related income, fair value adjustments and tax slipped 32 p...

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