South Port forecasts flat annual profit as lower dairy payout seen denting demand

Fri, 13 Feb 2015

By Tina Morrison Feb. 13 (BusinessDesk) - South Port New Zealand, the Bluff port operator, expects annual profit to be relatively flat this year as farmers buy less fertiliser, stock food and fuel. Earnings are expected to be $6.5 million to $7 million in the 12 months ending June 30, from a record $6.68 million last year, the Bluff-based company said in a statement. The port operator today posted a 23 percent increase in first-half profit to $3.3 million as revenue rose 11 percent to $16.2 million. South Port had record cargo flows of...

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