South Port lifts annual profit 16% on bigger volumes, says 2016 earnings will fall

Thu, 20 Aug 2015

By Paul McBeth Aug. 20 (BusinessDesk) - South Port New Zealand, the Bluff port operator, lifted annual profit 16 percent as stronger cargo flows bolstered the hub's volumes, though the company anticipates the slowing economy will sap earnings in 2016. Net profit rose to $7.7 million, or 29.5 cents per share, in the 12 months ended June 30, from $6.7 million, or 25.5 cents a year earlier, the Bluff-based company said in a statement. Revenue gained 11 percent to $34.6 million as total cargo grew 5 percent to a record 2.86 million tonnes on...

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