In­vest­ments pay off

Auckland City Harbour News - - NEWS -

An ex­tra $30 mil­lion is be­ing added to Auck­land Coun­cil’s cof­fers thanks to a great end of year re­turn on its in­vest­ments.

Auck­land Coun­cil In­vest­ments Ltd (ACIL) owns around $1.5 bil­lion of as­sets in­clud­ing the Ports of Auck­land and Auck­land Film Stu­dios Ltd.

It also has a 22.4 per cent hold­ing in Auck­land In­ter­na­tional Air­port.

For the year end­ing June 30 it made an af­ter­tax profit of $30.6 mil­lion which has al­lowed it to re­turn $30m to the coun­cil.

This was $3.2m higher than expected.

‘‘This is a great re­sult for Auck­land Coun­cil and for ratepay­ers and we look for­ward to pro­duc­ing still higher re­turns in fu­ture years,” ACIL chief ex­ec­u­tive Gary Swift says.

‘‘Our con­tri­bu­tions help to make Auck­land pros­per­ous, well con­nected, ac­ces­si­ble and full of op­por­tu­nity,’’ he says.

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