Napier Port Holdings Limited (NZX: NPH) 2021 Half Year Results

Napier Port today reports resilient half year revenue and earnings as the diversity of the Napier Port trade portfolio mitigates the ongoing effects of the Covid-19 pandemic.Sustained strong log export market conditions resulted in a record log export volume for the first half of the financial year.

Napier Port Chief Executive Todd Dawson said: “The disruption we have seen to global shipping over the last year has presented considerable challenges to Napier Port and our customers.

“We ended the half year with drawn bank debt of $36.0 million and with balance sheet net debt of $32.1 million, having commenced drawing on our banking facilities during the first half of the current financial year to fund the 6 Wharf project. In addition, we have undrawn bank facilities of $144 million.

“Whilst the immediate challenges of COVID-19 necessitated caution and no interim dividend during 2020, the Board has resolved in the current financial year to pay a fully imputed interim dividend of 2.8 cents per share, in line with its dividend policy. The dividend record date will be 11 June and the payment date will be 25 June.”

OUTLOOK

“Demand for the region’s food and fibre exports remains robust. However, notwithstanding the Government’s recent moves to increase the availability of seasonal labour in the future, the impact of worker shortages on seasonal export industries remains uncertain,” Mr MacLeod said.

“We intend to provide a further interim update to the NZX market regarding our June quarter trading results during August.”

Please see the links below for details

NPH - NZX and Media Release - 2021 Half Year Results

NPH - 2021 Half Year Report

NPH - 2021 Half Year Results Investor Presentation

NPH - 2021 NZX Half Year Results Announcement Form

NPH - Distribution Notice

NPH - 2021 Half Year Supplemental Trade Volume Data

NPH - 2021 Half Year Supplemental Selected Financial Information

Source: Napier Port Holdings Limited

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

FRW - Board update
THL - BGH Consortium confidentiality agreement executed
MEL - Meridian receives final approval on contingent storage
July 3rd Morning Report
KMD Brands completes share consolidation
July 2nd Morning Report
SPK - Spark notes Government spectrum policy announcement
SML - Synlait finalises refinancing and advises changes to balan
KMD strengthens balance sheet with debt refinance
GXH - Green Cross Health Limited - Annual Shareholders' Meeting