UPDATE: Port of Tauranga lifts annual profit 13%, plans further expansion

Thu, 23 Aug 2018

(Updates to add detail throughout, comment from brokers, share price reaction) By Rebecca Howard Aug. 24 (BusinessDesk) - Port of Tauranga, New Zealand's biggest port company, posted a 13 percent rise in annual profit, driven by record cargo volumes, and plans to further expand capacity. The port company - which handles 40 percent of all containers in New Zealand - said net profit rose to a record $94.3 million in the year to June 30 from $83.4 million a year earlier as container volumes lifted 8.9 percent to nearly 1.2 million twen...

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