UPDATE: Napier Port beats guidance, maintains 2020 log forecast

Tue, 19 Nov 2019

(Adds CEO comment on log outlook from 9th paragraph. Updates shares.) Full-year earnings at Napier Port Holdings beat the company’s prospectus forecast by 3.2 percent on record log volumes and as higher than projected refrigerated cargo volumes boosted container volumes and average revenue. The firm, which listed its shares in August, reported net profit of $6.8 million for the year ended Sept. 30, up from the $5.6 million forecast, but down from $17.6 million a year earlier when the port was wholly-owned by Hawke’s Bay Regional Council....

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