Port of Tauranga, 'bluest of NZ blue chips' achieves record volumes, earns 'sell' rating

Fri, 25 Aug 2017

By Jonathan Underhill Aug. 25 (BusinessDesk) - Port of Tauranga has transformed itself into Australasia's most efficient port and broken records for cargo volumes but analysts struggle to put a 'buy' recommendation on its shares. New Zealand's biggest port company today posted a 7.9 percent gain in annual profit to $83.4 million, at the top of its guidance, in a year when total trade rose 10 percent to a record 22.2 million tonnes. Profit was just below the estimate of $84.1 million from brokerage Forsyth Barr, which has an 'underperform'...

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