South Port's profit drops, 'welcomes' ongoing smelter business

A ship berthed at the Tiwai Point aluminium smelter in Bluff. (Image: NZME)

Fri, 23 Aug 2024

South Port has reported a decline in profit from last year due to a falloff in cargo, despite a late surge in container volumes.The Bluff port operator is confident that the long-term presence of NZ Aluminium Smelters (NZAS) and its Tiwai Point operation will make up a significant share of revenue in coming years. NZAS recently secured electricity supply contracts from Meridian Energy, Contact Energy and Mercury NZ for 20 years.South Port’s normalised net profit after tax (NPAT) result for the year was $9.96 million, down from $11.5m in 2...

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