Port of Auckland upgrades earnings guidance as lease decision looms

Port of Auckland has upgraded its earnings guidance for the 2024 financial year. (Image: POAL)

Thu, 18 Apr 2024

Port of Auckland has upgraded its earnings guidance from $52 million to $52-55m as it continues to win back market share from Port of Tauranga.The port, owned by Auckland council, released the updated guidance on Thursday as councillors continue to mull a proposal, which was consulted on as part of the long-term plan (LTP), to sell an operating lease for the port.Consultants engaged by the council put the indicative value of a 30-year lease at $2 billion – proceeds Auckland mayor Wayne Brown wants to put towards a diversified fund for the...

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