South Port New Zealand Ltd is predicting its net profit after tax will be in the range of $3.5 million to $3.7 million for the year ended June 30.The operator of Bluff's port has previously indicated a $3.5m figure.Had a one-time adjustment of $2.1m for g
South Port New Zealand Ltd is predicting its net profit after tax will be in the range of $3.5 million to $3.7 million for the year ended June 30.
The operator of Bluff's port has previously indicated a $3.5m figure.
Had a one-time adjustment of $2.1m for government tax changes not been required the net profit after tax would have been in the range of $5.6m - $5.8m compared with the 2009 full year result of $4.1m.
Chief executive Mark O'Connor said the increased profit forecast reflected busier than normal cargo and warehousing activity and a favourable agreement with New Zealand Aluminium Smelters over arrears and ongoing charges applicable to the Tiwai Wharf licence.
The port has a one-off reduction in value for its existing mobile harbour crane as well as the non-cash tax adjustment.
