Marsden Maritime Holdings Limited (NZX: MMH) Half Year Result

Friday 26th February 2021

Marsden Maritime Holdings Ltd has recorded a Net Surplus of $5.2 million for the interim six-month reporting period ending 31 December 2020, down slightly ($0.1 million) from the same period last year.

Strong results from the Group’s property and marina business segments (up 20% on the corresponding period last year) have largely offset lower earnings from the joint venture interest in Northport Ltd, the revenue of which was impacted by the mix of cargoes.

Northport Ltd bulk cargo volumes for the first six months were at a similar level to last year (1,693,275 tonnes). Container volumes were 5,388 TEU for the first six months of the financial year.

Commenting today, chief executive Felix Richter said: “The Group’s half-year result is an illustration of the company’s continued progress in diversification and investment in long term development opportunities, which aligns with Marsden Maritime’s purpose to transform Northland’s economy”.

A fully imputed dividend of 6.75 cents per share (2019/20 – 6.75 cents per share) has been declared, with payment to be made on 26 March 2021.

Please see the links below for details:

MMH - Half Year Report

MMH - Half Year Media Release

MMH - NZX Announcement

MMH - Distribution Notice

Source: Marsden Maritime Holdings Limited

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