Port of Tauranga Delivers Strong Interim Result, FVE Increased to NZD 3.60
Wide moat-rated Port of Tauranga reported a good interim result with underlying NPAT increasing 9% to NZD 41.9 million. The impressive result reflects strong growth in cargo volumes and improved port productivity. The interim dividend of NZD 5 cents per share represents an 81% payout ratio and a 9% increase on the prior period. Full-year guidance for underlying NPAT was confirmed to be at the upper end of the guidance range of NZD 79-83 million.ÂWe increase our long-term earnings forecasts and ...
Port of Tauranga and its subsdiaries operate in four segments: Port Operations, which provides and manages port services, and cargo handling facilities through the Port of Tauranga, MetroPort and the Timaru Container Terminal; Property Services, which consists of managing and maintaining Co.'s property assets; Marshalling Services, which consists of the contracted terminal operations, stevedoring, marshalling and scaling activities of Co.'s subsidiary, Quality Marshalling (Mount Maunganui) Limited; as well as Transport Services, which consists of the road transport and freight handling activities, of Co.'s subsidiaries, Tapper Transport Limited, Tapper SIP Limited and MetroPack Limited.
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