Lyttelton forecast up

Strong trade volumes in recent months and lower than expected costs have enabled Lyttelton Port to lift its full year profit forecast.

The company yesterday said it was projecting net profit of $10 million to $10.5 million for the year ending June 30.

At the close of the first half of the financial year Lyttelton Port was forecasting net profit of $9.6 million, which was up on earlier predictions.

Chief executive Peter Davie said the company was in a solid position and productivity was improving.

Lyttelton Port shares closed up 14c at $2.29 yesterday.

- NZPA