Port of Tauranga Ltd

POT: XNZE (NZL)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	NZD 5.90	Dnzd	Pwszqmms

Flat Earnings for Port of Tauranga; Container Uplift in 2015 Augurs Well for Profit Growth

Aug 21, 2014

Port of Tauranga, or POT, posted underlying net profit after tax, or NPAT, of NZD 78.3 million, in line with our estimate. The result was flat versus the prior period. The core ports business posted flat earnings as higher income from logs was offset by lower container income. Subsidiary and associate companies achieved some growth with Northport and Tapper Transport the star performers, the latter benefiting from an acquisition.

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