South Port has announced a decrease in net profit after tax for the first half of the financial year, due to reduced volumes and inflationary pressure on costs.
Net profit after tax was $3 million, down from $5.2m in the same period last year.
Total cargo activity also saw a decline, with a 14% decrease in cargo flows to 1.49 million tonnes.
The chair of South Port, Philip Cory-Wright, attributed these challenges to the poor market conditions in the agricultural and forestry sectors.
The company's full-year earnings are now estimated to fall in the range of $7.3m to $8m, compared to $11.7m in the previous year.
Despite the lower earnings expectation, the directors have declared an interim dividend of 7.5 cents per share.
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