Northland Port profit down

An 83 per cent drop in half-year profit has seen Northland Port cut its dividend 30 per cent.

The port posted a net profit of $723,000 for the six months to December, down from $7.06 million previously. But chairman Mike Daniel said the huge difference was because the previous December half result included a one-off gain of almost $7 million from the sale of Port Whangarei.