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Lyttelton profit down as depreciation, operating costs rise

<p>The Lyttelton Port Company has reported a net profit of NZ$4.5m for the six months to December 31, down 8% on the same period the previous year, largely on the back of higher asset depreciation rates and rising operating costs. </p> <p>The port’s revenue rose 18.8% to $37.9m, but this rise was offset by a 17.9% rise in operating costs. </p> <p>Container terminal volume at the port rose 11%, compared with the corresponding half year, 92,100 teu. Coal volumes rose 13% to 1.161m tonnes from 1.029m tonnes and bulk fuel volumes rose 5% to 576,500 tonnes. </p> <p>Total volume for the port rose 4.2% to 4.557m tonnes. </p> <br />