Ports of Auckland 1H profit growth stalls as restructuring costs offset revenue gains

Thu, 01 Mar 2018

By Paul McBeth March 2 (BusinessDesk) - Ports of Auckland reported flat first-half earnings and trimmed its interim dividend payment to the city as the cost of introducing greater automation offset a 9.1 percent increase in revenue. Net profit slipped to $29.2 million in the six months ended Dec. 31 from $29.3 million a year earlier, the Auckland port operator said in a statement. The company paid a dividend of $23.8 million for the period, down from $25.3 million a year earlier. Ports of Auckland embarked on a transformation program...

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