Eastland Group has reported a net profit after tax of $5.6 million in the year to March 31, down from a record $6.7 million last year.
Eastland Group operates Gisborne Airport, owns Eastland Port at Gisborne and Eastland Network.
It paid $4 million in d
Eastland Group has reported a net profit after tax of $5.6 million in the year to March 31, down from a record $6.7 million last year.
Eastland Group operates Gisborne Airport, owns Eastland Port at Gisborne and Eastland Network.
It paid $4 million in dividends to owner Eastland Community Trust, up from $3.8 million last year.
Group chief executive Matt Todd said the decline in earnings was largely due to depreciation of electricity distribution assets following their revaluation and higher depreciation of port assets.
Revenue fell to $61.6 million from $66.9 million last year.
