DCHL chairman Keith CooperA loss of almost $11 million from network company Aurora Energy has slashed profits of Dunedin City Holdings Ltd (DCHL) to $10.4 million from $24.3 million last year. The DCHL - the investment holding company for Dunedin City Council's (DCC) group of eight companies - distributed $5.9 million to the DCC in interest payments. Last year the network company spent $62 million (2018: $78.4 million) on new network assets, which saw assets increase to $580.4 million - while term borrowing increased by $46.8 million to $301.4 million. Overall DCHL operating company borrowings were at $384 million, which compares with the book value of DCHL assets at $1.35 billion. The Dunedin Airport enjoyed a busy year, with passenger numbers up 4.5% to almost 1.1 million, generating revenue of $17.2 million and profits of $3.6 million.

Source: Otago Daily Times September 27, 2019 01:18 UTC