New Zealand's South Port FY26 net income jumps on strong cargo growth

South Port New Zealand

21/08/2026 01:38

Overview
New Zealand port operator's FY26 revenue rose 14% to record high
Net profit after tax for FY26 rose 21% to record $16.1 mln
Company cites strong cargo growth, agriculture, and wind farm project cargo for results

Outlook
Company expects FY27 trade volumes to be broadly in line with FY26
Company notes downside risk in FY27 from absence of wind farm project cargo
Further FY27 update to be provided at annual shareholders meeting in October

Result Drivers
BULK AND CONTAINER VOLUMES - Co said record results were driven by a 9.7% rise in bulk cargo and 18.5% increase in container volumes
AGRICULTURE AND SMELTER ACTIVITY - Co cited strong agricultural industry and higher New Zealand Aluminium Smelter throughput as supporting growth
PROJECT CARGO - Wind farm project cargo contributed to higher volumes in the period

Company press release: ID:nNZW32ygPr

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Operating Revenue
 
NZ$71.80 mln
 
FY NPAT
 
NZ$16.11 mln
 
FY DIVIDEND
 
NZ$0.29
 
FY EBITDA
 
NZ$29.90 mln
 
FY Normalised NPAT
 
NZ$16.14 mln
 

Reuters Recommended Reads
Aug 19 - New Zealand's Skellerup FY26 profit jumps 18% to record; revenue rises
Aug 19 - New Zealand's Seeka half-year net profit rises; co lifts NPBT guidance
Aug 19 - Container shipper ZIM Q2 revenue beats on higher freight rates

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)