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

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