Napier Port has reported challenging first half financial results, with revenue falling 3.6% to $50.7 million, result from operating activities decreasing 22.8% to $16.4 million and underlying net profit after tax decreasing 32.1% to $7.2 million.
The drop in revenue and profit were the result of lower trade volumes, supply chain and Covid disruptions and an increase in operating expenses.
Despite the challenges, 6 Wharf continues to progress ahead of schedule and under budget, and a fully imputed interim dividend of 2.8 cents per share has been announced.
Napier Port is expecting underlying result from operating activities for the year to 30 September 2022 to range between $38 million and $42 million.
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