South Port FY profit falls 4.3 percent on costs to cope with higher volumes

South Port FY profit falls 4.3 percent  on costs to cope with higher volumes
Aug. 23 (BusinessDesk) - South Port New Zealand, the nation’s southern-most port company, posted a 4.3 percent drop in full-year profit on costs to cope with higher cargo volumes and increased insurance premiums. Profit was $5.99 million in the 12 months ended June 30, from $6.26 million a year earlier, the Bluff-based company said in a statement. Sales rose 3.5 percent to $26 million. The port company experienced a 25 percent surge in cargo volumes in 2011, which had required more spending on workers, plant an infrastructure, it said. “The...