FIRST CUT: Port of Tauranga posts 8.5% 1H profit gain as cargo picks up

Wed, 22 Feb 2017

By Jonathan Underhill Feb. 23 (BusinessDesk) - Port of Tauranga posted an 8.5 percent gain in first-half profit and raised its full-year guidance, saying both exports and import cargo volumes rose, including a rebound in the outbound log trade. Profit rose to $41.9 million in the six months ended Dec. 31 from $38.6 million a year earlier, the Tauranga-based company said in a statement. Revenue climbed 2.8 percent to $125 million. Container volumes at New Zealand's largest port rose 8 percent to 510,074 TEUs and the company said it was...

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