March 5, 2020 / 7:44 PM / a month ago

BRIEF-Napier Port Holdings Expects Slowdown In Log Exports From Levels Seen For FY To Date

March 6 (Reuters) - Napier Port Holdings Ltd:

* FOR FINANCIAL YEAR TO DATE TRADING HAS BEEN IN LINE WITH EXPECTATIONS

* EXPECT SLOWDOWN IN LOG EXPORTS FROM LEVELS SEEN FOR FY TO DATE AND POSSIBLE IMPACTS ON OTHER CARGO TRADES

* FY LOG EXPORT VOLUMES HAVE INCREASED BY 2.9% ON PRIOR YEAR COMPARABLE PERIOD

* REPORTS ON TRADING CONDITIONS DISRUPTED BY COVID-19 VIRUS

* LOG EXPORTS CONTINUE TO SAIL FROM NAPIER PORT BUT REDUCTIONS IN LOG HARVESTING, CURRENT LOG INVENTORY LEVELS ON CHINESE PORTS HIGH

* CLOSELY MONITORING CHANGES TO TRADING PATTERNS, AS IT AFFECTS CO’S LOG EXPORT CUSTOMERS, KEY CHINESE DESTINATION MARKET

* CONDITIONS REPRESENT MATERIALLY INCREASED RISK TO ACHIEVEMENT OF PREVIOUS EARNINGS FORECASTS Source text for Eikon: Further company coverage:

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