Port of Tauranga full-year profit falls 2.3%, flags plan for $140M capital return, share split

Wed, 17 Aug 2016

By Jonathan Underhill Aug. 18 (BusinessDesk) - Port of Tauranga posted a 2.3 percent decline in full-year profit, missing some estimates, while announcing plans to return $140 million to shareholders over four years and a five-for-one share split to boost liquidity. Profit fell to $77.3 million, or 56.8 cents a share, in the 12 months ended June 30, from $79.1 million, or 58.2 cents, a year earlier, the Tauranga-based company said in a statement. Operating revenue fell to $245.5 million from $268 million, which it said partly reflected ha...

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