Lyttelton Port result improves but CEO says it's not enough

H1 net profit lifted 51.4% on the year. (Image: LPC)

Wed, 05 Feb 2025

Lyttelton Port Company reported an improved first-half result but the chief executive said it’s only a first step on the company’s path to financial stability.“Lyttelton Port does not generate sufficient returns on its capital base, and we have been underperforming against our peers for at least the last decade. We have to get to the point where we can fund replacement capital and pay an acceptable dividend to our shareholder,” said CEO Graeme Sumner.LPC paid a final dividend of $8.33 million in November 2024 to Christch...

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