South Port cuts guidance on forestry export ban

Mon, 30 Mar 2020

South Port New Zealand said reduced cargo and increased costs from covid-19 health protocols may mean the company misses the reduced earnings guidance it provided six weeks ago.The operator of the Bluff port last month said June-year profit could fall to between $8.2 million and $8.7 million, down from $9.8 million the year before, due to reduced log and fertiliser tonnages.On Friday, port chairman Rex Chapman said that earnings were now expected to be at the lower end of that range “or slightly less.”“This guidance is based on a number of assu...

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