South Port has revised its profit forecast range down to between $7 million and $7.5m because of a tax adjustment.
The deferred tax adjustment, which now totals $2.3m, is the result of a difference in interpretation between the company's deferred tax calculation and its auditor's interpretation of the accounting standard for buildings.
South Port's previous guidance, given on July 25, had estimated full-year earnings to be around $8.3m to $9m.
The company emphasised that while this accounting adjustment will affect its reported profit, it will have no effect on cash flows or underlying profitability.
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