Net earnings by South Port New Zealand Limited (South Port) have held up relatively well in the opening half-year, despite significant disruption in the supply chain and uncertainty created by the pandemic.
The Chairman, Mr Rex Chapman, opened the Annual Shareholders’ Meeting at Bluff today with the introduction of South Port’s new logo and Māori motto which was recently adopted by the Port following extensive consultation with Te Rūnunga o Awarua.
Notice is hereby given that the 33rd Annual Shareholders' Meeting of South Port New Zealand Limited will be held in the Board Room, South Port, on Friday, 29 October 2021 commencing at 11:00 am (NZST).
South Port has achieved a record after-tax profit of $10.71 million for the year ended 30 June 2021, which is a 13.6% increase on the $9.43 million recorded in 2020. This result is slightly ahead of the guidance provided in the Company's 2021 Interim Report, released on 8 March.
South Port has this morning been informed by Pubic Health South that a further seven crew members have returned a positive test for COVID-19.
On Friday, 16 July 2021 South Port was informed by Public Health South that two crew members onboard the Mattina container ship, scheduled to arrive at Bluff, were showing flu-like symptoms and as a precaution had been isolated from the rest of the crew.
South Port New Zealand Limited has entered into an NZD 9.4 million contract with European-based Damen for the delivery of an Azimuth Tractor Drive Tug to operate at its Bluff Port.
South Port has recorded a strong start to the 2021 financial year due to an excellent operational performance.
The benefits of diversification were highlighted in a COVID-19 affected year, shareholders of South Port New Zealand Limited (South Port) were told at the Company’s Annual Shareholders’ Meeting at Bluff today.
Notice is hereby given that the 32nd Annual Shareholders’ Meeting of South Port New Zealand Limited (NZBN 9429039452528) will be held online at www.virtualmeeting.co.nz/SPN20 and in person in the South Port Board Room, Administration Building, Island Harbour, Bluff on Thursday, 29 October 2020 commencing at 11:00 am (NZST).
South Port New Zealand Limited (South Port) is undertaking an investigation into the deepening of its entrance channel by removing some higher areas that currently limit channel width and depth.
The results for the year ending 30 June 2020 for South Port New Zealand Limited (South Port) were pleasing but also reflect the unavoidable effects of the nationwide Alert Level 4 lockdown, including some unexpected offsets.
South Port New Zealand Limited (South Port) intends to hold its next Annual Meeting of Shareholders on Thursday, 29 October 2020 in Bluff commencing at 11:00 am.
The closure of NZAS Tiwai Smelter in August 2021 will be a major loss to the regional economy.
On 27 March South Port provided a Covid-19 Pandemic update when the Company made a slight adjustment to its profit guidance advising that it was now expected that full year earnings would be at the lower end of the previous estimated profit range of $8.2M to $8.7M or slightly less. Further updates were to be provided if there were any material changes.
South Port is classified as an essential service and continues to operate under the Covid-19 Level 4 restrictions announced by the Government on 25 March 2020.
South Port New Zealand Ltd has followed up its excellent 2019 performance with a steady result for the first six months of FY2020 ending 31 December 2019; recording a net profit after tax of $4.6 million consistent with the previous corresponding period in FY2019.
South Port New Zealand Limited has urged the Government to recognise the risk represented by Rio Tinto’s strategic review of the viability and competitive position of the New Zealand Aluminium Smelter (NZAS).
Notice is hereby given that the 31st Annual Meeting of the shareholders of South Port New Zealand Limited will be held in the South Port Board Room, Administration Building, Island Harbour, Bluff on Friday, 8 November 2019 at 11.00 am.
A steady level of bulk cargo and increased container activity were key contributors to another record year for South Port New Zealand Limited in the period ending 30 June 2019.
Transition to revised NZX Listing Rules South Port New Zealand Limited advises that it intends to comply with the new NZX Listing Rules from 30 June 2019.
On 18 December 2017 South Port disclosed that the Invercargill City Council had commenced High Court proceedings against the Company seeking legal title in relation to three parcels of Bluff land owned by the Company.
The operating performance for the half year was strong with total revenue increasing by 7.4% to $20.90 million. However increased repairs and maintenance, including the scheduled five yearly dry docking of the tug Hauroko ($838K expenditure) led to a reduction of 7.1% in net profit after tax.
Having marked its 30th anniversary with a record after tax profit of $9.66 million, a million dollars higher than the prior year, South Port New Zealand Ltd told shareholders attending today’s Annual General Meeting held at Bluff, the importance of its diversified trade.
Notice is hereby given that the 30th Annual Meeting of the shareholders of South Port New Zealand Limited will be held in the South Port Board Room, Administration Building, Island Harbour, Bluff on Thursday, 25 October 2018 at 11.00 am.
South Port New Zealand Ltd’s reported after-tax profit for the June 2018 year is $9.66M, up 14% on last year’s result of $8.45M.
Matters relating to the electronic representation of the audited financial statements.
This audit report relates to the financial statements of South Port New Zealand Limited for the year ended 30 June 2021 included on South Port New Zealand Limited’s website. South Port New Zealand Limited is responsible for the maintenance and integrity of the website. We have not been engaged to report on the integrity of the South Port New Zealand Limited’s website. We accept no responsibility for any changes that may have occurred in the financial statements since they were initially presented on the website.
The audit report refers only to the financial statements named above. It does not provide an opinion on any other information which may have been hyperlinked to/from these financial statements. If readers of this Report are concerned with the inherent risks arising from electronic data communication they should refer to the published hard copy of the audited financial statements and related Audit Report dated 27 August 2021 to confirm the information included in the audited financial statements presented on this web site.
Legislation in New Zealand governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Michael Lee on behalf of the Auditor General, Invercargill, New Zealand