Lyttelton Port Revises Profit Forecast

28 May 2008

Lyttelton Port Of Christchurch Revises Profit Forecast

Lyttelton Port of Christchurch has announced an upwardly revised net profit projection of $10-$10.5 million for the financial year ending June 30 2008.

At the close of the first half of the financial year LPC was forecasting net profit of $9.6 million, up on earlier predictions and in line with full year results for the preceding financial year.

“We have maintained strong trade volumes in the last few months, and that, coupled with lower than expected costs, has allowed us to revise our net profit estimates upwards” said Chief Executive Peter Davie.

“LPC is in a solid position at present and productivity is improving. We are optimistic for the remainder of the financial year, but we must retain a healthy degree of caution. We operate in an increasingly challenging environment and economic conditions have softened recently; this could impact on final profit.”

ENDS

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