Lyttelton Port sees 2013 annual earnings down by as much as 23 percent

Fri, 02 Nov 2012

Nov. 2 (BusinessDesk) - Lyttelton Port Co, Christchurch's ocean hub, sees 2013 annual profit falling by as much as 23 percent as it moves outside its indemnity period for cruise revenue and on smaller volumes of coal exports. The company expects earthquake-adjusted profit of between $13 million and $15 million in the 12 months ending June 30, 2013, down from $17 million in the latest financial year, chairman Rodger Fisher told shareholders at today's annual meeting in Christchurch. The reduction in earnings reflected the movement outside t...

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