A slide in profit for the country's largest port

Port of Tauranga has announced a 23-percent drop in annual group net profit after tax.

Underlying profit is down 12.8 percent -- in contrast, Port of Auckland's underlying profit is up 22-percent over the same period.

Port of Tauranga says while log and kiwifruit exports are increasing, shipping schedules remain unreliable, inflation is high, consumer confidence is still low, and imports are decreasing.

The Port is still working on a way forward for its expansion plans, possibly under the Government's fast-track legislation.