What the interim report details
This report details Auckland Council Group's results for the six months to 31 December 2018.
- Revenue of $3,261 million, ahead of the six months ended 31 December 2017 by $258 million.
- Surplus after income tax of $1,039 million, against the 31 December 2017 surplus of $976 million.
- Total net debt was $8,285 million, which has increased by $63 million in the last six months.
- Total assets amounted to $52.4 billion, an increase of $938 million from 30 June 2018.
This performance demonstrates the strength in our financial management and a continued focus on delivering the group's 10-year budget.
The group's challenge is to balance the costs of delivering and maintaining services against the infrastructure investment demands of a growing city.
We are committed to providing cost effective services and a prudent approach to management of debt.
Some of the areas the group invested in during the last six months are:
- public transport and roading - $268 million
- water and waste water infrastructure - $160 million
- community services assets - $128 million.
The group's credit ratings of AA from Standard and Poor's and Aa2 from Moody's were reaffirmed in September and October 2018 respectively. Both ratings are stable.
Get a copy of the interim report