Announcement

HALFYR: MMH: INTERIM PROFIT ANNOUNCEMENT 09:03a.m. 
MMH  
20/02/2019 09:03  
HALFYR  
PRICE SENSITIVE  
REL: 0903 HRS Marsden Maritime Holdings Limited (NS)  
 
HALFYR: MMH: INTERIM PROFIT ANNOUNCEMENT  
 
Marsden Maritime Holdings Ltd (NZX:MMH) announces that it has recorded a Net  
Surplus of $4.444 million (2017 - $5.297 million) for the interim six-month  
reporting period to 31 December 2018, a reduction on last year, primarily as  
a result of lower bulk cargo through Northport.  
 
Overall cargo throughput at Northport Ltd was down 11.0% to 1.699 million  
tonnes (2018 - 1.908 million tonnes) with log volumes decreasing by 9.8%.  
 
Commenting today, MMH Chief Executive, Felix Richter said, "While Northport  
cargo volumes were down in the first six months, volumes for the second six  
months are forecast to improve on the current period."  
 
"The parent company has continued its growth in revenue from other  
activities, and these are expected to improve, with the operating surplus for  
the full year still anticipated to be a positive improvement on last year",  
added Chairman Sir John Goulter.  
 
In respect of property development prospects, the Company has just reached an  
unconditional agreement to build and lease to a multinational client two  
substantial bulk storage warehouses on its land at Marsden Point, adjacent to  
Northport.  
 
Preliminary work on the project has already commenced and the first warehouse  
is expected to be occupied from 1 July 2019. The second warehouse is  
scheduled to be completed and ready for occupation from mid-September 2019.  
The total budget for the project some $8.0 million. Also a block of four  
commercial units is under construction with completion due in April.  
 
"There remains considerable scope for further developments of this nature",  
Mr Richter said, noting the benefits this would have to the Northland  
economy.  
 
A fully imputed dividend of 6.75 cents per share (2017/18 - 6.75 cents per  
share) has been declared with payment to be made on 22 March 2019.  
 
ENDS.  
 
For further details, please contact:  
Gavin Carroll  
FINANCIAL CONTROLLER/COMPANY SECRETARY  
Ph: (09) 432-5052  
End CA:00330821 For:MMH Type:HALFYR Time:2019-02-20 09:03:46