The owner of the Ports of Auckland has wiped $92 million off the book-value of its investment, to reflect difficult trading circumstances facing the company.
Auckland Regional Holdings says it has revised the value of its investment in the port from $587.8 million to $495.7 million.
It says that's in line with a forecast reduction of $124.5 million in dividends from Ports of Auckland over the next 10 years.
Ports of Auckland declined to comment, except to say discussions to buy Port of Tauranga's container business were progressing.
The $92 million downgrade means Auckland Regional Holdings will make a net loss of $40.8 million for the year.
Ports of Auckland's profit of $21.1 million for the June year was down from the previous year's $64.6 million.
