RESEND Port of Tauranga vents frustration, predicts another record profit

Thu, 25 Oct 2012

Oct. 25 (BusinessDesk) - Port of Tauranga is signalling another record profit and is frustrated at a new Maori court challenge to block plans to deepen its shipping channel to accommodate larger vessels. A 19 percent rise in net profit after tax in the first quarter has given the company the confidence to predict an annual profit between $75 million and $79 million at its annual meeting today. The port posted a record $73.5 million profit last year, up 26 percent on the previous year, which was also a record. Port of Tauranga notched up a 3...

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