Port of Tauranga says FY profit to rise as much as 10% after 'very strong' first quarter

Thu, 19 Oct 2017

By Jonathan Underhill Oct. 19 (BusinessDesk) - Port of Tauranga forecast 2018 profit will rise as much as 10 percent, saying it expects a strong pick-up in freight volumes in the first quarter to continue. New Zealand's biggest port company expects full-year earnings to be $88 million-to-$92 million, up from $83.4 million in 2017, chief executive Mark Cairns told shareholders at their annual meeting in Tauranga today. That comes after "a very strong start to the year" with total trade up 15 percent, Cairns said. Log volumes rose 13 per...

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