FIRST CUT: Port of Tauranga lifts FY earnings guidance after 1H cargo volumes rise

Thu, 22 Feb 2018

By Jonathan Underhill Feb. 23 (BusinessDesk) - Port of Tauranga, New Zealand's biggest port company, raised its full-year earnings guidance after posting a 13 percent gain in first-half profit that was driven by growth in cargo volumes. Net profit rose to $47 million in the six months ended Dec. 31 from $41.9 million a year earlier, the company said in a statement. Sales rose to $141 million from $125 million. The company raised its forecast for full-year profit to a range of $92-$96 million from the $88-$92 million guidance it gave at...

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