Even keel for South Port half-year

By Phil Boeyen, ShareChat Business News Editor

Thursday 8th February 2001

Bluff port company South Port has reported a half-year profit of $910,000, slightly down on last year's result.

The port company is also forecasting a slightly reduced full year profit compared with last year's result of just under $2 million.

Sales in the six months to the end of December fell to $5.7 million from $12.million the previous year, although that figure included income from the company's investments such as Southland Motor Group, which it no longer owns.

Cargo volume at the port was slightly ahead of budget and last year's figure.

"With the core business now firmly focused on port-related activities that are operating at record levels of tonnage, the directors are indicating their confidence in current trends by declaring a fully imputed interim dividend of 2.5 cps, payable on March 23rd" the company said in a statement.

The number of South Port shares on issue has fallen to around 26 million from 32.4 million following a share buyback.

Comments from our readers

No comments yet