Port of Tauranga says profit growth may stall

Net profit for the port rose to $73.8 million in the six months ended December 31, from $72.2 a year earlier, the company said in a statement. Revenue rose 2% to $73.8 million as the company as total trade and container volumes gained 6%.

"We expect to post a full year result similar to last year's earnings," said chairman John Parker in a statement. "We don't really know the extent of the challenges but will ensure we are well prepared for them."

The port will pay an interim dividend of nine cents per share, unchanged from a year earlier. The shares rose 2.9% to $5.30.

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