SPN Southport

[Ferg]

Earlier I mentioned Southport are on track for at least $16m NPAT, which would be a record.  This would be 20% growth on last year's record profit of $13.3m.  Their FY announcement should be later this month.

Per the May 22nd announcement they mentioned: "The Company remains well positioned to deliver a record full year result, supported by favourable operating conditions experienced earlier in FY26 and continued focus on operational efficiency and capital discipline."
Source: https://www.nzx.com/announcements/473201

I track the daily ship movements at Southport and IMO ship movements are up at least 13%*** for the full year.  The first half year was up around 18% and my figures*** are showing ship movements are up around 9% for H2.  Large ships are up around 14% (being bulk carriers, tankers and container ships) with around 40% of that increase coming from the expanded MSC container service to the USA, with the rest coming from increased foresty exports and chemical/feriliser imports.  So the locals appear to be continuing investment in their farms.

***Massive caveat in that I may have missed a number of ships while I was in the UK and didn't collect the data in time....I will fix this once we see the full year presentation.  I likely missed a number of fishing trawlers.

Monthly ship movements below (keep in mind my figures for June are likely missing some fishing vessels):

You cannot view this attachment.