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Port of Tauranga mid-year profit up despite rough waters


Port of Tauranga mid-year profit up despite rough waters
25 Feb, 2021 07:32 PM
6 minutes to read
Port of Tauranga confident of its own abilities amid supply chain congestion. Photo / Supplied
Port of Tauranga turned in a mid-year 2.3 per cent increase in group net profit after tax, despite volatile cargo volumes and fallout from supply chain congestion and severe ship delays at Auckland.
Group net profit after tax for the first six months of the 2021 financial year to December was $49.4 million, achieved despite a 1.3 per cent decrease in total trade volumes to 13.1m tonnes.
Revenue was $159.5m, up 3 per cent on the same previous period, due to higher income from the container terminal and a 22.3 per cent rise in the earnings of subsidiaries and associate companies. ....

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SGX Nifty indicates an 80-point gain for Nifty at open - The Hindu BusinessLine


February 24, 2021
Foreign fund flows, Covid-19 cases and rising bond yields will anchor the market movement
The domestic market is expected to open with a gap up of at least 80 points, as SGX Nifty is currently ruling at 14,842 against Nifty March futures’ close of 14,762.85. However, with only one day left for expiry of F&O monthly contracts, analysts expect the market to remain volatile. While cues from Asia-Pacific markets remain mixed, US markets closed in the green overnight after opening sharply lower.
We note that concerns pertaining to increase in bond yields and higher commodity prices dented investors’ sentiments in the last couple of days. However, underlying strength of economy and market remains intact in our view and hence, any meaningful correction in the market should be used to buy, said Binod Modi, Head - Strategy at Reliance Securities. ....

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