Lyttelton port results weigh on holding company

Lyttelton Port Company had softer than expected volumes in the first half of the 2024 financial year. (Image: NZME)

Mon, 04 Mar 2024

A downturn in profit for Lyttelton Port Company helped drag down the overall result for the Christchurch council-owned group of companies.The South Island port isn’t the only port company to be affected by challenging economic conditions, lower volumes and higher costs.Port of Tauranga (POT) and South Port recently reported downturns in net profit for the first half of the 2024 financial year. Port of Auckland, which regained market share from POT, beat the trend, posting a slight increase in profit despite a $15 million hit from reduced...

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