Dunedin Venues Management Ltd results show increased profit

30 September 2014

Dunedin Venues Management Ltd results show increased profit

• Revenue increased to $9.1 million (up from $8.23 million)
• Operating profit increased by 10.3% to $2.7million
In the year end results to June 30 2014, Dunedin Venues Management Ltd, operator of Forsyth Barr Stadium and the Dunedin Centre, produced an improvement in operating profit of 10.3% on the previous year.

Revenue for the year increased to $9.1m and the overall position (after rent) is a net loss of $58,000 compared to a loss of $986,000 for the same period last year.

Dunedin Venues Management Ltd, CEO, Terry Davies believes that this is a positive result and an indication of the organisation’s improvement over the last 12 months.

“We’ve invested a lot of time into strengthening relationships with promoters and our venue hirers and we’re seeing the results of this work. We remain commercially focused to achieve a wide variety of profitable events across our venues and deliver value to our partners and stakeholders.

“Over the last financial year we welcomed over 330,000 people into our venues at 305 events, the equivalent of 2.75 times the population of Dunedin. Dunedin Venues will continue to be a strong economic driver for the city.”

ENDS

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