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10 stories mentioning NZE:POTUpdated 10d ago

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Asia

New Zealand Shares Fall; Port of Tauranga Secures Passage Development Fast-Track Approval

New Zealand shares slide on Monday amid concerns over global oil supplies as tensions rose around the Strait of Hormuz.The S&P/NZX 50 Index slid 0.22% or 31.35 points to close at 13,942.83.Brent crude oil futures rose to trade around $96 per barrel after the US and Iran traded attacks in the Middle East.Strong US jobs data spurred expectations of an imminent Federal Reserve rate hike.In domestic news, New Zealand's housing market continues to favor buyers, with residential property values decreasing by 1.9% nationally over the three months to the end of August, marking the largest quarterly decline in two years, according to the QV House Price Index.In corporate news, Port of Tauranga (NZE:POT) secured fast-track approval for the Stella Passage Development, according to a joint statement released by New Zealand Infrastructure Minister Chris Bishop and Regional Development Minister Shane Jones.Auckland International Airport (ASX:AIA, NZE:AIA) said it plans for international travelers to move through security screening before passport control within a new integrated departures terminal.

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Asia

Port of Tauranga Secures Passage Development Fast-Track Approval

Port of Tauranga (NZE:POT) secured fast-track approval for the Stella Passage Development, according to a joint statement released by New Zealand Infrastructure Minister Chris Bishop and Regional Development Minister Shane Jones on Monday.The company submitted its application in January, with approval taking about five months from the appointment of an independent expert panel.The redevelopment of the Sulphur Point and Mount Maunganui wharves at the port will allow for the expansion of each wharf, permit the installation of new container cranes on the Sulphur Point Wharf, and include the dredging of Stella Passage in Tauranga Harbor, the statement said.

NZE:POT
Asia

Port of Tauranga Sells Auckland Property to Trade Depot

Port of Tauranga (NZE:POT) sold its 6.84-hectare Gateside property at 345 Neilson Street, Onehunga, to Trade Depot for NZ$88.7 million as part of its capital recycling program, according to a Wednesday filing with the New Zealand bourse.The sale will enable the port to free up capital from non-core assets for strategic infrastructure investment, while Trade Depot will use the site to support its continued growth and expansion in Auckland, the filing added.

NZE:POT
Asia

Port of Tauranga Fiscal 2026 Earnings Down, Revenue Up

Port of Tauranga (NZE:POT) logged NZ$0.229 in earnings per share for the fiscal 2026, compared with NZ$0.255 a year ago, a Friday filing showed.Analysts polled by FactSet expected earnings of NZ$0.22.For the 12 months ended June 30, revenue was NZ$486.5 million versus NZ$464.7 million previously, the New Zealand-listed port operator added. Analysts surveyed by FactSet expected AU$481.6 million.The board declared a final dividend of NZ$0.125 per share, up from NZ$0.097 a year earlier, payable Oct. 2 to shareholders on record as of Sept. 18.The company expects fiscal 2027 underlying earnings to be in the range of NZ$160 million to NZ$175 million.

NZE:POT
Asia

Port of Tauranga Receives Conditional Approval for Stella Passage Development Fast-Track Application

Port of Tauranga (NZE:POT) received conditional approval of its fast-track application for the Stella Passage development after an expert panel issued a draft decision on Monday, according to a same-day New Zealand bourse filing.The development includes the extension of the Sulphur Point container berth by 385 meters and the Mount Maunganui wharves by 315 meters, by converting existing cargo storage land within the port's current footprint, per the filing. It also includes associated reclamation of the land behind the new wharves and dredging of the passage.The company was given two days to comment on the proposed conditions, while other parties will also be given the chance to comment before a final decision is delivered in early September.

NZE:POT
Asia

Jarden Research Adjusts Port of Tauranga's Price Target to NZ$7 from NZ$6.54, Keeps at Underweight

Port of Tauranga (NZE:POT) has an average rating of hold and mean price target of NZ$7.95, according to analysts polled by FactSet.

NZE:POT
Asia

Port of Tauranga Set for Earnings Growth on Tariff Hikes, Jarden Says

Port of Tauranga (NZE:POT) is expected to deliver strong earnings growth over the next two years as significant tariff increases support returns on major infrastructure investments, though valuation remains stretched and demand risks persist, Jarden said in a Thursday note.Jarden said the company's fiscal year 2027 tariff schedule confirms "meaningful" price increases, with container revenue per twenty-foot equivalent unit expected to rise 11% and breakbulk and marine service pricing up about 6%, driven by higher landside charges and infrastructure levies linked to berth expansion and automation projects.Jarden expects return on invested capital on operational assets to rise to 6.9% in fiscal 2027 from 5.3% in fiscal 2025, close to its 7% target, and said the wharf extension remains on track, with a regulatory decision due by Sept. 7.The investment firm has maintained its fiscal year 2026 earnings guidance, slightly reduced fiscal year 2027 estimates by 1%, and lifted fiscal year 2028 forecasts by 3%, projecting net profit after tax of NZ$146.6 million in fiscal 2026 and NZ$176.7 million in fiscal 2027, mainly supported by higher pricing.Jarden maintained its underweight rating on Port of Tauranga and increased its price target to NZ$7 from NZ$6.54.

NZE:POT
Asia

NZX Biggest Losers

Here are the NZX-listed companies with the biggest losses on Friday.Vista Group International (NZE:VGL): -3%, NZ$2.26Briscoe Group (NZE:BGP): -2%, NZ$4.40Turners Automotive Group (NZE:TRA): -2%, NZ$8.41Millennium & Copthorne Hotels NZ (NZE:MCK): -2%, NZ$3.04Port of Tauranga (NZE:POT): -2%, NZ$8.18South Port New Zealand (NZE:SPN): -2%, NZ$8.83Seeka (NZE:SEK): -2%, NZ$5.04Scales Corporation (NZE:SCL): -1%, NZ$5.95Meridian Energy (NZE:MEL): -1%, NZ$5.84Napier Port Holdings (NZE:NPH): -1%, NZ$3.61

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Asia

Port of Tauranga Launches Stormwater Treatment System at Mount Maunganui Wharves

Port of Tauranga (NZE:POT) said it has launched a new stormwater treatment system at its Mount Maunganui wharves, according to a Thursday statement.Chief executive Leonard Sampson said the port monitors both stormwater and harbor water to gather data and identify improvement opportunities, resulting in several initiatives and infrastructure upgrades at the Mount Maunganui wharves to prevent contaminants from entering Te Awanui Tauranga harbor.

NZE:POT
Asia

NZX Biggest Losers

Here are the NZX-listed companies with the biggest losses on Friday.Mercury NZ (NZE:MCY): -1%, NZ$6.60Freightways Group (NZE:FRW): -1%, NZ$12.28Infratil (NZE:IFT): -1%, NZ$12.03Contact Energy (NZE:CEN): -1%, NZ$9.39Meridian Energy (NZE:MEL): -0.7%, NZ$5.66Summerset Group Holdings (NZE:SUM) -0.5%, NZ$8.55Port of Tauranga (NZE:POT): -0.5%, NZ$7.93Fisher & Paykel Healthcare (NZE:FPI): -0.3%, NZ$38.36

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