Port Timaru's after-tax profit plummeted $742,820 to $466,470 this year after container numbers dropped by 27 per cent, reported Timaru Herald.

Chief executive Jeremy Boys quick to point out the operating profit of $1.1 million had been significantly reduced by restructuring, tax changes and depreciation, but overall debt had been reduced from $6.63 million to $4.05 million.

The port was hit hard by Fonterra's decision to move most of its Clandeboye dairy cargo out of Lyttelton, which saw container numbers drop to 44,800 from 60,100 the previous year.