South Port New Zealand Limited (NZX SPN) has reported a 19.7% increase in net profit after tax for the full year ending 30 June 2022, with total operating revenue increasing by 2.7%.

Despite disruptions to containerised trade and ongoing fluctuations in log trade, South Port’s diversified trade mix enabled them to report a higher annual result.

Cargo tonnage was up 2.8% to 3,554,000 tonnes.

The Board is pleased to confirm a consistent final dividend of 19.5 cents, bringing the full-year dividend to 27 cents per share and providing a gross return of 4.4%.

South Port is currently working through the consent process to deepen the port channel and berth pockets.

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