Dunedin City Holdings has paid off $19 million of debt during its first half trading to December, and booked a $4.9million after-tax surplus. Dunedin Stadium Property Ltd, formerly Dunedin Venues Ltd, booked another loss, of $3.2million, down on last year's $4 million loss, largely due to a decline in interest costs following a stadium review. DCHL revenue declined from $139.08 million a year ago to $125.1 million and, as intended, no dividend was paid to the council, he said. ''The strong operating cashflow and overall lower debt levels continue to reflect the group's stable financial performance,'' he said in statement. He said Delta's $1.84 million surplus was consistent with the previous year and in line with expectations.

Source: Otago Daily Times March 07, 2017 17:44 UTC