Eastland Group full-year profit falls 2.6%, still manages to pay record dividend

Fri, 04 Aug 2017

By Jonathan Underhill Aug. 4 (BusinessDesk) - Eastland Group, the community trust-owned company that runs Gisborne's port, airport and electricity distribution businesses, posted a 2.6 percent decline in full-year profit as operating expenses grew faster than revenue. That didn't prevent it declaring a record dividend. Profit fell to $14.8 million in the year ended March 31 from $15.2 million a year earlier, according to its annual report. Revenue rose to $76.2 million from $73.9 million, while operating expenses rose to $34.6 million fro...

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