Inflation, market conditions hit South Port earnings

Inflation, market conditions hit South Port earnings
South Port is optimistic the downturn will be short-lived. (Image: Getty)
Oliver Lewis
Tough market conditions have resulted in South Port reporting a significantly reduced half-year profit, with inflationary pressures on labour and materials biting. In an update to the New Zealand stock exchange on Friday, the port, which is majority-owned by regional council Environment Southland, revealed cargo volumes in the first six months of the 2024 financial year were down 14% on the comparable 2023 period at 1,488,000 tonnes.Net profit after tax (NPAT) was $3 million compared with $5.2m in the first half of 2023...

More Infrastructure

KiwiRail reveals $8m cost of McKinsey contract
Infrastructure

KiwiRail reveals $8m cost of McKinsey contract

Rail Minister Winston Peters calls it an unacceptable payment. 

Oliver Lewis 02 Apr 2025
Mainfreight praises 'logical, sensible' rail ferries decision
Infrastructure

Mainfreight praises 'logical, sensible' rail ferries decision

Port companies on both side of the Cook Strait also welcome increased certainty.

Oliver Lewis 01 Apr 2025
Meet your new ferries, New Zealand
Infrastructure

Meet your new ferries, New Zealand

Winston Peters confirms new Interislander ferries will be rail-enabled.

Oliver Lewis 31 Mar 2025
Developers make unsolicited bids for prime Chch rebuild site
Policy

Developers make unsolicited bids for prime Chch rebuild site

Crown Infrastructure Delivery is weighing up options for the massive site.

Oliver Lewis 28 Mar 2025