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Auckland Council Investments Ltd surpasses all expectations
Auckland Council Investments Ltd surpasses all expectations
for the past financial year
Auckland Council Investments Ltd (ACIL) has surpassed all expectations for the past financial year.
ACIL, which owns and manages Auckland Council’s major investment assets, including Ports of Auckland, the International Airport, Auckland Film Studios and an investments portfolio, paid an after tax dividend of $156 million compared to $45million the previous year and $110 million higher than budgeted. This achieved on total income of $275.9 million.
The total return on equity at 26.5% was also significantly up on the 11.2% of the previous year.
Gary Swift, ACIL Chief Executive, said: “It is pleasing to note we are delivering on the requirement to ensure Auckland gets ever greater returns from its investments.”
The significance of this reflected in the record dividend being equivalent to 11.1% of Auckland Council’s entire rates revenue.
ends
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