Napier Port (NZX.NPH) today announced reduced trade volumes for the first half of its financial year to 31 March 2022 and updated its earnings guidance for the year to 30 September 2022.
With container volumes decreasing 16.6% and bulk cargo volumes decreasing 8.7% over the period, Napier Port now expects an underlying result from operating activities for the full financial year to range between $38 million and $42 million, which is less than the previously forecast increase of approximately 10% on the result for 2021.
This follows an escalation in global container-based supply chain and shipping disruptions, seasonal labour shortages compounded by pandemic-related absences and adverse local seasonal weather conditions.
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