South Port New Zealand has reported a decline in container volumes, along with subdued operational performance in the first half of FY2023, reflecting demand constraints in China and a slowing domestic economy.
Despite this, the Port retains a positive outlook, with increases in stock food, alumina, and woodchips, as well as initiatives for the Port in the works.
Chief Executive Nigel Gear says international container supply chains are still disrupted and this will continue until there is a return to normal shipping windows.
South Port expects earnings for FY2023 to be in the range of $11.10 million to $11.60 million, with the Directors expecting the full-year dividend to be at least consistent with that paid in FY2022.
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