PORT of Tauranga, New Zealand's biggest export port, expects annual earnings to be broadly in line with a year earlier and has experienced a lag in dairy shipments after the false botulism scare in August.
The company forecasts annual earnings of between $NZ77 million and $NZ80 million ($A67.89 million-$A70.54 million) in the 12 months ending June 30 2014, chief executive Mark Cairns told shareholders at Thursday's annual meeting in Tauranga.
That compares to underlying earnings of $NZ77.2m in 2013.
Mr Cairns said first-quarter net profit was about the same as a year earlier, as a 13 per cent increase in log exports and a six per cent gain in trade was offset by a 13 per cent drop in containers, "largely due to the lag in dairy exports associated with the botulism scare and also the loss of the import container service".
The Kotahi freight alliance between Fonterra and Silver Fern Farms told the port it anticipates a significant increase in export volumes in the coming months, he said.
Port of Tauranga posted a record annual profit in 2013 as it readies for a dredging project to prepare for larger ships.
The port is pushing for supremacy in the port sector with dredging expected to start next year, and after investing in its MetroPort facilities in Auckland and taking a 50 per cent stake in PrimePort Timaru.
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