Napier Port profit meets forecast, covid dents dividend

Napier Port profit meets forecast, covid dents dividend
Staff reporters
Napier Port lifted pro-forma profit 4.2 percent to $20.4 million in the 12 months ended Sept. 30, meeting its forecast from last year’s initial public offering documents as it eked out more revenue per trade unit.Still, the covid-19 pandemic disrupted cargo volumes and brought cruise ships to an abrupt halt, and the port operator signalled September 2021 earnings before interest, tax, depreciation and amortisation will be between $34 million and $38 million, down from the $41 million reported today. Revenue edged up 0.8 percent to $100.4...