Port payout drops

Northland Port has reported a $2.69 million profit for a year in which the port handled 1.64 million tonnes of cargo, up 200,000 tonnes on last year.

The profit in the year to June 30 is down from $10.05 million last year, when the port got $7.6 million from the sale of 50 per cent of marina joint venture Marsden Cove.

The company is paying a final dividend of 3c a share, down from 5c a share last year.

- NZPA