South Port forecasts further disruption in supply chain

South Port New Zealand Limited's half-year results show revenue of $23.3 million, net earnings of $5.9 million and container volumes down 23%.

Despite disruption in the supply chain and uncertainty created by the pandemic, Directors declared a steady fully imputed interim dividend of 7.50 cents per share.

Factors impacting the interim result include the log market in a downward cycle due to decreased demand and high inventory levels in the Chinese market, and international container supply chains being significantly disrupted as a result of the ongoing COVID-19 pandemic.

South Port estimates that its full year earnings should fall in the range of $9.70 million to $10.00 million, with a full year dividend payment, if the forecast range is achieved, of 27 cents per share.