South Port beats guidance, earnings in line with 2018 record

Sun, 21 Jul 2019

By Paul McBeth July 22 (BusinessDesk) - South Port New Zealand says it will report flat annual earnings, beating guidance for a 10 percent decline, as strong cargo flows late in the season gave profit an extra push. The Bluff-based company said net profit in 12 months ended June 30 was similar to the record $9.66 million reported a year earlier. The country's southern-most port had previously expected earnings of between $8.6 million and $8.9 million due to the cost of updating assets near the end of their life. South Port today said...

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