South Port NZ Ltd – Interim Report to 31 December 2016

Directors
Rex Chapman
Chairman
Rick Christie
Philip Cory-Wright
Thomas Foggo
Clare Kearney
Jeremy McClean
Corporate Executives
Mark O’Connor
Chief Executive
Geoff Finnerty
Port Operations Manager
Nigel Gear
Commercial Manager
Frank O’Boyle
Infrastructure Manager
Lara Stevens

Finance Manager
Murray Wood
Warehousing Manager
Group Companies
Parent Company
South Port New Zealand Limited
Subsidiary
Awarua Holdings Limited
NOTES TO THE
FINANCIAL STATEMENTS
1 ACTIVITIES OF SOUTH PORT GROUP – The Group is primarily involved in
providing and managing port and warehousing services.
2 ACCOUNTING POLICIES – The Group is a Financial Markets Conduct (FMC)
reporting entity for the purposes of the Financial Reporting Act 2013 and the Financial
Markets Conduct Act 2013. These financial statements comply with these Acts and
have been prepared in accordance with the New Zealand equivalents to International
Financial Reporting Standards (NZ IFRS) and other applicable Financial Reporting
Standards, as appropriate for profit-orientated entities. These financial statements
comply with International Financial Reporting Standards (IFRS).
There has been no change in accounting policies. All policies have been applied on a
consistent basis with the most recent annual report.
3 TAXATION – Income tax expense comprises current and deferred tax at the
company tax rate of 28%. Income tax expense is recognised in the Statement of
Comprehensive Income except to the extent that it relates to items recognised directly in
equity, in which case it is recognised in equity.
4 SEGMENTAL REPORTING – The South Port Group operates in the Port
Industry in Southland, New Zealand, and therefore only has one reportable segment
and one geographical area based on the information as reported to the chief operating
decision maker on a regular basis. South Port engaged with one major customer who
contributed individually greater than 10% of its total revenue for the period ended
31 December 2016. This customer contributed $4.43 million for the six months ended
31 December 2016 (2015: $4.04 million).
Total equity at beginning
of the period 35,596 33,314 33,314
Surplus/(loss) after income tax 4,108 5,062 8,709
Other comprehensive surplus/(loss) – – –
Total comprehensive
surplus/(loss) 4,108 5,062 8,709
Distributions to shareholders (4,853) (4,460) (6,427)
Total equity at end of the period 34,851 33,916 35,596
31/12
2015
$000’s
31/12
2016
$000’s
Year to
30/06/16
$000’s
Surplus after taxation 4,108 5,062 8,709
Add/(less) items classified
as investing/financing activities – – –
Add/(less) non-cash items 1,572 1,459 3,067
Add/(less) movement in working capital (2,201) (1,338) 87
Net cash provided by operating activities 3,479 5,183 11,863
6 NET CASH FLOW FROM OPERATING ACTIVITIES
Financial Performance
South Port’s NPAT for the first six months of FY2017 reflected a better than
expected level of $4.10M (FY2016 - $5.06 million). Several factors impacted on this
lower interim result including:
 A distorted interim profit contribution being reported in FY2016 due largely to
R&M scheduling (NPAT half year $5.06M versus full year $8.71M);
 An increased number of significant R&M projects being undertaken in the
current period, as signalled in the FY2016 profit release and Annual Meeting
comments; and
 Notably lower cold storage income being generated in first 6 months of FY2017.
The closing comments of the FY2016 Review of Operations outlined the following:
“Based on all known factors at the date of compiling this Report, South
Port estimates that earnings in the next financial year are likely to reduce by
approximately 15%.”
The reported FY2017 interim profit is ahead of budget and this earlier forecast and
therefore some upside potential exists for the full year result [albeit that it is still
expected to be less than the FY2016 NPAT].
Cargo
Total cargo activity registered at 1,517,000 tonnes, which aligns closely with the
1,512,000 tonnes throughput of the prior year interim period. Clearly overall cargo
maintained the solid pattern of the previous year however some variances were
evident within individual cargo categories. Specifically petroleum (-23,000T) and
stock food (-30,000T) showed declines whilst logs (+39,000T) and woodchips
(+30,000T) continued to show strength.
Containerised cargo provided an encouraging lift of around 8% despite negative
pressure being evident for agri imports such as specialised fertiliser, stock food
and minerals.
Operational Events
Dairy
While there have been some recent reductions in the Global Dairy Trade (GDT)
auction results, international dairy commodity prices on a trend basis lifted
consistently over the back half of 2016. This is encouraging news for the sector
with farmers having sustained two difficult seasons where some balance sheets
would have been stretched to breaking point.
While commentators are not predicting the same highs of earlier cycles, the
current forecast payout levels will offer greater confidence to operators in the
dairy industry. A close watch on possible volume increases in Europe and USA will
continue as these two global producers have the ability to dramatically influence
the dairy supply side.
5 STATEMENT OF CHANGES
IN EQUITY
FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2016
INTERIM REPORT
DIRECTORY
Island Harbour, PO Box 1, Bluff 9842, New Zealand
PHONE +64 3 212 8159
EMAIL reception@southport.co.nz
 South Port NZ
WWW.SOUTHPORT.CO.NZ
FOR THE SIX MONTH PERIOD
ENDED 31 DECEMBER 2016
INTERIM REPORT
UnauditedUnauditedAudited

FINANCIAL STATEMENTS
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
SIX MONTH PERIOD ENDED 31 DECEMBER 2016
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2016
Total operating revenues
from port services 17,410 17,979 36,718
Total operating expenses (10,000) (9,189) (20,646)
Gross profit 7,410 8,790 16,072

Administrative expenses (1,477) (1,545) (3,391)
Operating profit before 5,933 7,245 12,681
financing costs

Financial income 107 5 9
Financial expenses (298) (320) (710)
Net financing income/(costs) (191) (315) (701)
Other income – 67 176
Surplus before income tax 5,742 6,997 12,156
Income tax (1,634) (1,935) (3,447)
Net surplus after income tax 4,108 5,062 8,709
Other comprehensive income – – –
Total comprehensive surplus/
(loss) after income tax 4,108 5,062 8,709
Basic earnings per share $0.157 $0.193 $0.332
31/12
2015
$000’s
31/12
2016
$000’s
Year to
30/06/16
$000’s
CONSOLIDATED STATEMENT OF CASH FLOWS
SIX MONTH PERIOD ENDED 31 DECEMBER 2016
Cash flows from operating
(note 6) 3,479 5,183 11,863
Cash flows from investing (2,496) (4,231) (9,181)
Cash flows from financing (854) (1,560) (3,927)
NET INCREASE/(DECREASE)
129

(608) (1,245)
IN CASH
31/12
2015
$000’s
31/12
2016
$000’s
Year to
30/06/16
$000’s
TOTAL EQUITY 34,851 33,916 35,596
NON-CURRENT ASSETS
Property, plant & equipment 47,436 43,051 47,368
Total non-current assets 47,436 43,051 47,368
CURRENT ASSETS
Cash 1,037 1,545 908
Trade and other receivables 5,905 5,211 4,743
Total current assets 6,942 6,756 5,651
Total assets 54,378 49,807 53,019
NON-CURRENT LIABILITIES
Employee provisions 53 40 37
Deferred tax liability 425 357 379
Borrowings 14,700 11,100 4,000
Other 263 255 370
Total non-current liabilities 15,441 11,752 4,786
CURRENT LIABILITIES
Current borrowings – – 6,700
Trade and other payables 2,798 2,466 3,803
Provisions 771 788 1,047
Other 517 885 1,087
Total current liabilities 4,086 4,139 12,637
Total liabilities 19,527 15,891 17,423
TOTAL NET ASSETS 34,851 33,916 35,596
Net asset backing per share $1.33 $1.29 $1.36
31/12
2015
$000’s
31/12
2016
$000’s
Year to
30/06/16
$000’s
Intermodal Freight Centre (IFC)
This facility commenced operations in mid July 2016 and has provided a varied
range of services to freight forwarders, transport operators and a mix of import
and export parties. Focusing predominantly on import cargoes, containerised
volumes have tracked budget which was particularly pleasing considering the
reduced consumables spend in the dairy sector. Increased regional container
related service competition has also benefited import and export businesses
operating in Southland.
Container shipping market
As anticipated, further consolidation of container shipping lines and the creation
of new alliances occurred during 2016. Although no noticeable international rate
improvement is evident to date, it is highly likely that this will be necessary if the
container lines are to achieve sustainable profitability.
This consolidation action has triggered a situation where a number of the
larger land based container terminals have also signalled their intention to form
alliances and function as a bloc of service providers when negotiating operating
agreements with container lines.
Cold Storage
As alluded to in the Financial Performance opening section of this Report, cold
storage activity was particularly subdued in the first half of FY2017. This was
attributable to limited carry-over of product from the previous export season,
less total volume requiring cold storage in the current season to date and the
rapid movement of product to market. In addition one of South Port’s seasonal
customers, pet food processor Wilbur Ellis, sustained a serious fire at its Bluff
based plant in April 2016. This resulted in no storage being required by this
customer until early 2017, when the plant became operational again.
Business Development Opportunities
Mataura Valley Milk (MVM)
Construction of MVM’s infant formula plant commenced in the fourth quarter
of 2016. Located at McNab in Eastern Southland, the facility is scheduled to
begin processing by Spring 2018. The company was formed and promoted by
prominent local businessman Inky Tulloch and now has as its majority shareholder
the State-owned Chinese company China Animal Husbandry Group (CAHB).
South Port will be working with this party in coming months with a view to offering
services related to MVM’s supply chain.
Wind farm projects
Trustpower announced in late 2015 that it would split off its existing wind
generation assets plus its wind and solar developments into a new entity called
Tilt Renewables (Tilt). This new company came into existence in October 2016
and continues to review the economic viability of a proposed Kaiwera Downs
Wind Farm located across 2,568 ha. of farmland, around 15 km south east of Gore.
Resource Consents have been granted by Gore District Council and Southland
Regional Council with these consents allowing for a maximum of 83 wind turbines.
If this generation project is to proceed, then any development is unlikely to occur
before 2019 and may well progress in several stages.
NZAS
This significant export manufacturer (and importer of raw materials) remains
exposed to fluctuations and volatility both in the New Zealand dollar and the price
of aluminium. Despite this, the team at NZAS once again broke their hot metal
production record in 2016.
NZAS also pays one of the highest prices for transmission of a smelter anywhere in
the world and is keenly engaged in the Electricity Authority’s proposal to reform the
Transmission Pricing Methodology. It is critical, not only for NZAS, but for all existing
or new businesses operating in the South Island that a more logical and fairer
charging method be established for the provision of transmission infrastructure.
Obviously any realignment in this area will have a potentially significant bearing on
the long term viability of NZAS.
Health & Safety (H&S)
Due Diligence Review
In accordance with the obligations of the new Health & Safety at Work Act 2015,
South Port undertook a Due Diligence review of its H&S systems. Completed by
an external party, this exercise threw up several areas of improvement that required
action, plus reinforced projects that the Company had already started to advance
prior to the review being completed.
H&S Panel
A new initiative to enable Directors and staff to interact and discuss H&S risks
was also launched in the past six months. At least three times a year sub groups
from the newly formed H&S Panel (made up of Directors/H&S personnel/staff
representatives) will visit various operational areas to gain a better understanding of
what work is being undertaken and the associated H&S issues.
Outlook
A reasonably stable economic picture should enable South Port’s customers to
generate consistent cargo flows in the second half of FY2017. South Port’s main
product flows (logs/fertiliser/NZAS cargo/dairy/petroleum) are expected to track
budget expectations in the 6 month period to 30 June 2017.
As noted under the opening Financial Performance commentary, a greater level of
R&M expenditure has been programmed for FY2017 and for the next several years.
This relates to a number of significant infrastructural assets being at or near the end
of their physical useful life. In order to extend the effective life of these assets, a
much greater level of R&M expenditure will need to be applied to these structures.
Based on all known factors at the date of releasing its 2017 interim result, South Port
estimates that its full year earnings should fall in the range of $7.75 million to
$8.0 million (FY2016 - $8.7M).
Dividend
After assessing the anticipated year end result, the Directors have declared a fully
imputed interim dividend of 7.50 cents per share (2016 – 7.50 cents) payable on
7 March 2017.
In the event that the Company’s FY2017 profit falls within the above forecast
range then the Directors are confident that the full year dividend payment will be
consistent with the previous year.
R T CHAPMAN
Chairman
M P O’CONNOR
Chief Executive
UnauditedUnauditedAudited
UnauditedUnauditedAudited
UnauditedUnauditedAudited

FINANCIAL STATEMENTS
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
SIX MONTH PERIOD ENDED 31 DECEMBER 2016
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2016
Total operating revenues
from port services 17,410 17,979 36,718
Total operating expenses (10,000) (9,189) (20,646)
Gross profit 7,410 8,790 16,072

Administrative expenses (1,477) (1,545) (3,391)
Operating profit before 5,933 7,245 12,681
financing costs

Financial income 107 5 9
Financial expenses (298) (320) (710)
Net financing income/(costs) (191) (315) (701)
Other income – 67 176
Surplus before income tax 5,742 6,997 12,156
Income tax (1,634) (1,935) (3,447)
Net surplus after income tax 4,108 5,062 8,709
Other comprehensive income – – –
Total comprehensive surplus/
(loss) after income tax 4,108 5,062 8,709
Basic earnings per share $0.157 $0.193 $0.332
31/12
2015
$000’s
31/12
2016
$000’s
Year to
30/06/16
$000’s
CONSOLIDATED STATEMENT OF CASH FLOWS
SIX MONTH PERIOD ENDED 31 DECEMBER 2016
Cash flows from operating
(note 6) 3,479 5,183 11,863
Cash flows from investing (2,496) (4,231) (9,181)
Cash flows from financing (854) (1,560) (3,927)
NET INCREASE/(DECREASE)
129

(608) (1,245)
IN CASH
31/12
2015
$000’s
31/12
2016
$000’s
Year to
30/06/16
$000’s
TOTAL EQUITY 34,851 33,916 35,596
NON-CURRENT ASSETS
Property, plant & equipment 47,436 43,051 47,368
Total non-current assets 47,436 43,051 47,368
CURRENT ASSETS
Cash 1,037 1,545 908
Trade and other receivables 5,905 5,211 4,743
Total current assets 6,942 6,756 5,651
Total assets 54,378 49,807 53,019
NON-CURRENT LIABILITIES
Employee provisions 53 40 37
Deferred tax liability 425 357 379
Borrowings 14,700 11,100 4,000
Other 263 255 370
Total non-current liabilities 15,441 11,752 4,786
CURRENT LIABILITIES
Current borrowings – – 6,700
Trade and other payables 2,798 2,466 3,803
Provisions 771 788 1,047
Other 517 885 1,087
Total current liabilities 4,086 4,139 12,637
Total liabilities 19,527 15,891 17,423
TOTAL NET ASSETS 34,851 33,916 35,596
Net asset backing per share $1.33 $1.29 $1.36
31/12
2015
$000’s
31/12
2016
$000’s
Year to
30/06/16
$000’s
Intermodal Freight Centre (IFC)
This facility commenced operations in mid July 2016 and has provided a varied
range of services to freight forwarders, transport operators and a mix of import
and export parties. Focusing predominantly on import cargoes, containerised
volumes have tracked budget which was particularly pleasing considering the
reduced consumables spend in the dairy sector. Increased regional container
related service competition has also benefited import and export businesses
operating in Southland.
Container shipping market
As anticipated, further consolidation of container shipping lines and the creation
of new alliances occurred during 2016. Although no noticeable international rate
improvement is evident to date, it is highly likely that this will be necessary if the
container lines are to achieve sustainable profitability.
This consolidation action has triggered a situation where a number of the
larger land based container terminals have also signalled their intention to form
alliances and function as a bloc of service providers when negotiating operating
agreements with container lines.
Cold Storage
As alluded to in the Financial Performance opening section of this Report, cold
storage activity was particularly subdued in the first half of FY2017. This was
attributable to limited carry-over of product from the previous export season,
less total volume requiring cold storage in the current season to date and the
rapid movement of product to market. In addition one of South Port’s seasonal
customers, pet food processor Wilbur Ellis, sustained a serious fire at its Bluff
based plant in April 2016. This resulted in no storage being required by this
customer until early 2017, when the plant became operational again.
Business Development Opportunities
Mataura Valley Milk (MVM)
Construction of MVM’s infant formula plant commenced in the fourth quarter
of 2016. Located at McNab in Eastern Southland, the facility is scheduled to
begin processing by Spring 2018. The company was formed and promoted by
prominent local businessman Inky Tulloch and now has as its majority shareholder
the State-owned Chinese company China Animal Husbandry Group (CAHB).
South Port will be working with this party in coming months with a view to offering
services related to MVM’s supply chain.
Wind farm projects
Trustpower announced in late 2015 that it would split off its existing wind
generation assets plus its wind and solar developments into a new entity called
Tilt Renewables (Tilt). This new company came into existence in October 2016
and continues to review the economic viability of a proposed Kaiwera Downs
Wind Farm located across 2,568 ha. of farmland, around 15 km south east of Gore.
Resource Consents have been granted by Gore District Council and Southland
Regional Council with these consents allowing for a maximum of 83 wind turbines.
If this generation project is to proceed, then any development is unlikely to occur
before 2019 and may well progress in several stages.
NZAS
This significant export manufacturer (and importer of raw materials) remains
exposed to fluctuations and volatility both in the New Zealand dollar and the price
of aluminium. Despite this, the team at NZAS once again broke their hot metal
production record in 2016.
NZAS also pays one of the highest prices for transmission of a smelter anywhere in
the world and is keenly engaged in the Electricity Authority’s proposal to reform the
Transmission Pricing Methodology. It is critical, not only for NZAS, but for all existing
or new businesses operating in the South Island that a more logical and fairer
charging method be established for the provision of transmission infrastructure.
Obviously any realignment in this area will have a potentially significant bearing on
the long term viability of NZAS.
Health & Safety (H&S)
Due Diligence Review
In accordance with the obligations of the new Health & Safety at Work Act 2015,
South Port undertook a Due Diligence review of its H&S systems. Completed by
an external party, this exercise threw up several areas of improvement that required
action, plus reinforced projects that the Company had already started to advance
prior to the review being completed.
H&S Panel
A new initiative to enable Directors and staff to interact and discuss H&S risks
was also launched in the past six months. At least three times a year sub groups
from the newly formed H&S Panel (made up of Directors/H&S personnel/staff
representatives) will visit various operational areas to gain a better understanding of
what work is being undertaken and the associated H&S issues.
Outlook
A reasonably stable economic picture should enable South Port’s customers to
generate consistent cargo flows in the second half of FY2017. South Port’s main
product flows (logs/fertiliser/NZAS cargo/dairy/petroleum) are expected to track
budget expectations in the 6 month period to 30 June 2017.
As noted under the opening Financial Performance commentary, a greater level of
R&M expenditure has been programmed for FY2017 and for the next several years.
This relates to a number of significant infrastructural assets being at or near the end
of their physical useful life. In order to extend the effective life of these assets, a
much greater level of R&M expenditure will need to be applied to these structures.
Based on all known factors at the date of releasing its 2017 interim result, South Port
estimates that its full year earnings should fall in the range of $7.75 million to
$8.0 million (FY2016 - $8.7M).
Dividend
After assessing the anticipated year end result, the Directors have declared a fully
imputed interim dividend of 7.50 cents per share (2016 – 7.50 cents) payable on
7 March 2017.
In the event that the Company’s FY2017 profit falls within the above forecast
range then the Directors are confident that the full year dividend payment will be
consistent with the previous year.
R T CHAPMAN
Chairman
M P O’CONNOR
Chief Executive
UnauditedUnauditedAudited
UnauditedUnauditedAudited
UnauditedUnauditedAudited

Directors
Rex Chapman
Chairman
Rick Christie
Philip Cory-Wright
Thomas Foggo
Clare Kearney
Jeremy McClean
Corporate Executives
Mark O’Connor
Chief Executive
Geoff Finnerty
Port Operations Manager
Nigel Gear
Commercial Manager
Frank O’Boyle
Infrastructure Manager
Lara Stevens

Finance Manager
Murray Wood
Warehousing Manager
Group Companies
Parent Company
South Port New Zealand Limited
Subsidiary
Awarua Holdings Limited
NOTES TO THE
FINANCIAL STATEMENTS
1 ACTIVITIES OF SOUTH PORT GROUP – The Group is primarily involved in
providing and managing port and warehousing services.
2 ACCOUNTING POLICIES – The Group is a Financial Markets Conduct (FMC)
reporting entity for the purposes of the Financial Reporting Act 2013 and the Financial
Markets Conduct Act 2013. These financial statements comply with these Acts and
have been prepared in accordance with the New Zealand equivalents to International
Financial Reporting Standards (NZ IFRS) and other applicable Financial Reporting
Standards, as appropriate for profit-orientated entities. These financial statements
comply with International Financial Reporting Standards (IFRS).
There has been no change in accounting policies. All policies have been applied on a
consistent basis with the most recent annual report.
3 TAXATION – Income tax expense comprises current and deferred tax at the
company tax rate of 28%. Income tax expense is recognised in the Statement of
Comprehensive Income except to the extent that it relates to items recognised directly in
equity, in which case it is recognised in equity.
4 SEGMENTAL REPORTING – The South Port Group operates in the Port
Industry in Southland, New Zealand, and therefore only has one reportable segment
and one geographical area based on the information as reported to the chief operating
decision maker on a regular basis. South Port engaged with one major customer who
contributed individually greater than 10% of its total revenue for the period ended
31 December 2016. This customer contributed $4.43 million for the six months ended
31 December 2016 (2015: $4.04 million).
Total equity at beginning
of the period 35,596 33,314 33,314
Surplus/(loss) after income tax 4,108 5,062 8,709
Other comprehensive surplus/(loss) – – –
Total comprehensive
surplus/(loss) 4,108 5,062 8,709
Distributions to shareholders (4,853) (4,460) (6,427)
Total equity at end of the period 34,851 33,916 35,596
31/12
2015
$000’s
31/12
2016
$000’s
Year to
30/06/16
$000’s
Surplus after taxation 4,108 5,062 8,709
Add/(less) items classified
as investing/financing activities – – –
Add/(less) non-cash items 1,572 1,459 3,067
Add/(less) movement in working capital (2,201) (1,338) 87
Net cash provided by operating activities 3,479 5,183 11,863
6 NET CASH FLOW FROM OPERATING ACTIVITIES
Financial Performance
South Port’s NPAT for the first six months of FY2017 reflected a better than
expected level of $4.10M (FY2016 - $5.06 million). Several factors impacted on this
lower interim result including:
 A distorted interim profit contribution being reported in FY2016 due largely to
R&M scheduling (NPAT half year $5.06M versus full year $8.71M);
 An increased number of significant R&M projects being undertaken in the
current period, as signalled in the FY2016 profit release and Annual Meeting
comments; and
 Notably lower cold storage income being generated in first 6 months of FY2017.
The closing comments of the FY2016 Review of Operations outlined the following:
“Based on all known factors at the date of compiling this Report, South
Port estimates that earnings in the next financial year are likely to reduce by
approximately 15%.”
The reported FY2017 interim profit is ahead of budget and this earlier forecast and
therefore some upside potential exists for the full year result [albeit that it is still
expected to be less than the FY2016 NPAT].
Cargo
Total cargo activity registered at 1,517,000 tonnes, which aligns closely with the
1,512,000 tonnes throughput of the prior year interim period. Clearly overall cargo
maintained the solid pattern of the previous year however some variances were
evident within individual cargo categories. Specifically petroleum (-23,000T) and
stock food (-30,000T) showed declines whilst logs (+39,000T) and woodchips
(+30,000T) continued to show strength.
Containerised cargo provided an encouraging lift of around 8% despite negative
pressure being evident for agri imports such as specialised fertiliser, stock food
and minerals.
Operational Events
Dairy
While there have been some recent reductions in the Global Dairy Trade (GDT)
auction results, international dairy commodity prices on a trend basis lifted
consistently over the back half of 2016. This is encouraging news for the sector
with farmers having sustained two difficult seasons where some balance sheets
would have been stretched to breaking point.
While commentators are not predicting the same highs of earlier cycles, the
current forecast payout levels will offer greater confidence to operators in the
dairy industry. A close watch on possible volume increases in Europe and USA will
continue as these two global producers have the ability to dramatically influence
the dairy supply side.
5 STATEMENT OF CHANGES
IN EQUITY
FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2016
INTERIM REPORT
DIRECTORY
Island Harbour, PO Box 1, Bluff 9842, New Zealand
PHONE +64 3 212 8159
EMAIL reception@southport.co.nz
 South Port NZ
WWW.SOUTHPORT.CO.NZ
FOR THE SIX MONTH PERIOD
ENDED 31 DECEMBER 2016
INTERIM REPORT
UnauditedUnauditedAudited