ILT sales increase

The Invercargill Licensing Trust is cautiously celebrating an increase in its sales for the first time since the nationwide Covid19 lockdown.

The October numbers were presented by ILT chief executive Chris Ramsay at a board meeting yesterday.

However, despite the 9.2% profit increase, the numbers would not be enough to turn the year around, he said.

The trust recorded a profit before tax of $830,000 for October.

Mr Ramsay said yesterday this meant a 5.7% increase in total sales, compared with the same month last year.

A big part of the good result was due to offpremise bottle store businesses and profit from the ILT’s bars and restaurants, he said.

Accommodation was tracking ‘‘far behind’’ — and would remain that way until the country opened its borders, he said.

Mr Ramsay said the trust lost about $7 million in sales during the lockdown period, making its yeartodate profit $65,000 lower than last year’s result.

‘‘However, we are happy with the way we are performing, given the challenges every business is facing.’’

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