Council Chamber, Municipal Chambers [via architecturenow.co.nz]
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Dunedin City Council – Media Release
Dunedin City Holdings Limited Half Year Result to 31 December 2015
This item was published on 22 Feb 2016
Dunedin City Holdings Limited has reported a surplus of $8.7 million for the six months to December 2015.
The financial result was the first with the inclusion of both Dunedin Venues Limited (DVL – the company that owns the Forsyth Barr Stadium and is the landlord) and Dunedin Venues Management Limited (DVML – the event management company, which currently operates out of the Stadium and the Dunedin Centre) are now included in the Dunedin City Holdings Limited group of companies.
The net surplus for the group has decreased from the $10.1 million reported in the six months to 31 December 2014. Including the impact of DVL and DVML though, ie a like for like comparison, reveals a $2.7 million increase in surplus for the six months.
The continuing recent trend of debt reduction has also been a highlight of the financial period. Total debt has decreased from $593 million at the end of June 2015 to $588 million at the end of December, a $5 million decrease.
Dunedin City Holdings Limited Chairman Graham Crombie says, “It is pleasing to once again be able to show an improved financial result for the group. The like for like increase in surplus for the group, along with the reduction in debt levels, continues to reflect the improvement in the overall financial performance of the individual companies within the group.”
Aurora Energy Limited’s profit is down slightly on the previous year, but revenue has continued to grow. The company is continuing its major asset improvement and renewal programme, which is forecast to involve $372 million of expenditure over a 10 year period.
Improvements in both international and domestic demand, and a fall in the New Zealand dollar, were key factors for City Forests Limited. Along with reduced costs because of lower fuel prices and international shipping rates, this has led to healthy increase in surplus. The company’s net surplus has increased from $3.7 million in 2014 to $5 million in 2015.
Delta Utility Services Limited has also experienced a slight decrease in surplus for the six months, but continues to be in line with budget expectations. The company continues to develop its asset management, energy and environmental divisions.
Taieri Gorge Railway Limited has experienced an increase in revenue for the six months, reflecting a 10.2% increase in passenger numbers. Cost pressures over the reporting period have resulted in the surplus for the period being down compared with the same period last year.
The impact of increased event income, along with the implementation of the recommendations of the Dunedin City Dunedin Council’s Stadium review, has seen a significant increase in DVML’s financial result. The company has moved from a $1 million loss in 2014 to a reported six month surplus of $300,000. Mr Crombie says this is a significant turnaround for the company.
DVL has reported a net loss of $4 million compared to a loss of $4.4 million for the corresponding six month period last year. This is largely due to the impact of the Stadium review.
A rise in operating revenue, along with a decrease in interest costs, has resulted in an increase in the financial performance of Dunedin International Airport.
Contact Graham Crombie, Chairman Dunedin City Holdings Limited on 477 4000.
DCC Link
The Delta Affair [Douglas Field 23.2.16]
OTAGO DAILY TIMES
Corresponding DCC/DCHL reports below this group of news stories.
Councillors celebrate, criticise
By Chris Morris on Tue, 23 Feb 2016
A surplus of $8.7million delivered by the Dunedin City Council’s group of companies was cause for celebration and angst yesterday. The divergent views came as councillors discussed the results from Dunedin City Holdings Ltd and its subsidiaries for the six months to December 31 last year at yesterday’s full council meeting.
Delta loss could top $20 million
By Chris Morris on Tue, 23 Feb 2016
Delta’s potential loss from a stalled Christchurch subdivision could top $20 million, and was still growing as the company pumped more money in to secure its position, it has been confirmed. But the Dunedin City Council-owned company has all but given up already on recovering at least part of what it is owed, which is included as a “doubtful debt” on the company’s books.
DCC stating expectations
By Chris Morris on Tue, 23 Feb 2016
The Dunedin City Council is moving to spell out the expectations it has from its companies for the first time. But the move has already been dismissed as window-dressing by Cr Lee Vandervis, prompting a debate at yesterday’s full council meeting.
Conflict policy code reworking requested
By Vaughan Elder on Tue, 23 Feb 2016
Fears of unintended consequences caused Dunedin city councillors to request more work be done on a code of conflict policy. The policy, which consolidates the management of staff conflicts of interest in one document, was considered for adoption at yesterday’s meeting, but was sent back to chief executive Sue Bidrose.
Councillors back rounding of pool charges
Tue, 23 Feb 2016
Dunedin City councillors have supported rounding pool charges to the closest 50c. Council staff said rounding pool charges would simplify the cash handling process for customer service staff and result in quicker transactions for people paying with cash.
Dunedin stadium in the black
By Chris Morris on Mon, 22 Feb 2016
The company running Dunedin’s Forsyth Barr Stadium has turned a $1 million loss into a six-figure profit, and is forecasting greater returns in future.
The result came as the Dunedin City Council’s group of companies released their latest six-month reports and statements of intent, which will be discussed at today’s full
Conflicts of interest policy
By Chris Morris on Mon, 22 Feb 2016
Dunedin city council staff could be forced to resign under a new conflicts of interest policy to be considered by councillors today. The new policy would cover all council staff and contractors, but not councillors, who would be the subject of a separate report still being prepared.
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DUNEDIN CITY COUNCIL
A full council meeting was held on Monday, 22 Feb 2016, starting at 1:00 pm.
█ Agenda – Council – 22/02/2016 (PDF, 53.7 KB)
Report – Council – 22/02/2016 (PDF, 63.8 KB)
Dunedin City Holdings Ltd Financials for the Six Months Ended 31 December 2016
Report – Council – 22/02/2016 (PDF, 542.4 KB)
Dunedin City Holdings Ltd Six Months Financial Statements for the Period Ended 31 December 2015
Report – Council – 22/02/2016 (PDF, 66.1 KB)
Dunedin City Holdings Ltd Group of Companies Financials for the Six Months Ended 31 December 2015
Report – Council – 22/02/2016 (PDF, 2.0 MB)
Aurora Energy Ltd Six Months Financial Statements for the Period Ended 31 December 2015
Report – Council – 22/02/2016 (PDF, 206.1 KB)
City Forests Ltd Six Months Financial Statements for the Period Ended 31 December 2015
Report – Council – 22/02/2016 (PDF, 2.5 MB)
Delta Utility Services Ltd Six Months Financial Statements for the Period Ended 31 December 2015
Report – Council – 22/02/2016 (PDF, 191.6 KB)
Dunedin City Treasury Ltd Six Months Financial Statements for the Period Ended 31 December 2015
Report – Council – 22/02/2016 (PDF, 1.1 MB)
Dunedin International Airport Ltd Six Months Financial Statements for the Period Ended 31 December 2015
Report – Council – 22/02/2016 (PDF, 493.6 KB)
Dunedin Venues Ltd Six Months Financial Statements for the Period Ended 31 December 2015
Report – Council – 22/02/2016 (PDF, 314.9 KB)
Dunedin Venues Management Ltd Six Months Financial Statements for the Period Ended 31 December 2015
Report – Council – 22/02/2016 (PDF, 583.3 KB)
Taieri Gorge Railway Ltd Six Months Financial Statements for the Period Ended 31 December 2015
Report – Council – 22/02/2016 (PDF, 174.4 KB)
Dunedin City Council’s Letter of Expectations for 2016/17
Report – Council – 22/02/2016 (PDF, 68.3 KB)
Draft Statement of Intent – Dunedin City Holdings Ltd
Report – Council – 22/02/2016 (PDF, 192.0 KB)
Dunedin City Holdings Ltd Draft Statement of Intent 2017
Report – Council – 22/02/2016 (PDF, 828.7 KB)
Aurora Energy Ltd Draft Statement of Intent 2017
Report – Council – 22/02/2016 (PDF, 192.7 KB)
City Forests Ltd Draft Statement of Intent 2017
Report – Council – 22/02/2016 (PDF, 111.3 KB)
Delta Utility Services Ltd Draft Statement of Intent 2017
Report – Council – 22/02/2016 (PDF, 92.5 KB)
Dunedin City Treasury Ltd Draft Statement of Intent 2017
Report – Council – 22/02/2016 (PDF, 1.6 MB)
Dunedin International Airport Ltd Draft Statement of Intent 2017
Report – Council – 22/02/2016 (PDF, 50.3 KB)
Dunedin Venues Ltd Draft Statement of Intent 2017
Report – Council – 22/02/2016 (PDF, 119.1 KB)
Dunedin Venues Management Ltd Draft Statement of Intent 2017
Report – Council – 22/02/2016 (PDF, 70.4 KB)
Taieri Gorge Railway Ltd Draft Statement of Intent 2017
Report – Council – 22/02/2016 (PDF, 130.6 KB)
Conflicts of Interest Policy (Council Officers)
Report – Council – 22/02/2016 (PDF, 1.7 MB)
Wastewater Connection to 38 Church Hill Road
Report – Council – 22/02/2016 (PDF, 84.1 KB)
Community Engagement Plan for 2016/17 Annual Plan
Report – Council – 22/02/2016 (PDF, 295.4 KB)
2016/17 Aquatics Fees – Options for Annual Plan Consultation
█ Source: DCC webpage
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Posted by Elizabeth Kerr
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