27 Sep 2011

Port profit forecast lowered

12:10 pm on 27 September 2011

South Port in Bluff has pared back its profit expectations due to higher insurance costs and other one-off charges.

It now expects to make a profit of between $5 - $5.3 million in 2012, which will be 10% - 15% less than previously forecast.

Chief executive Mark O'Connor says cargo volumes are still very strong, but costs are rising.