Lyttelton Port Company reports jump in six-figure earners amid cost-cutting drive

Lyttelton Port Company has to boost earnings to justify further investment, chair says. (Image: LPC)

Thu, 03 Oct 2024

Despite its efforts to rein in costs, the number of employees earning more than $100,000 at Lyttelton Port Company has increased significantly over the past year, at a time when the port delivered reduced profits.The South Island port, the third largest in the country, released its annual report for the year ending June 30, 2024, last week.LPC reported net profit after tax (npat) of $9.9 million for the period, but this included a deferred tax expense relating to the removal of depreciation on commercial buildings. Excluding this, the port repo...

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