1 Feb 2012

Surplus crane sold

12:51 pm on 1 February 2012

South Port has sold a mobile harbour crane to a company based in the Bahamas for $US1.1 million.

Chairman Rex Chapman says the crane is surplus to requirements because the port replaced it with a larger and more modern crane a year ago.

Based on current exchange rates, the sale price will exceed the crane's carrying cost.

An updated full year profit forecast, including the sale of the crane, will be made in early February when the port releases its half year results.

Shares in South Port are unchanged at $3.50 on Wednesday.