Tainui Group Holdings
Annual Report
2013
25
Net operating
profit movement
The net operating profitmovement
graph shows the change between
2012 and 2013. A full year of
transactions and
also rental income from
at
resulted in increases in both
total revenue and operating expenses.
Finance costs are now also recognised
in the operating results since these
major capital projects are now complete.
There was aminor increase in interest
compared to last year, despite net debt
increasing by $7million.
Revenue
A full year of income fromthe
shows up in 2013,
representing 30% of the total revenue.
Rental income from
at
is nowbeing received for a full
year on stages 3 and 4 tenancies.
Residential section sales included the
sale of the Rotokauri land to Rotokauri
Development Limited joint venture,
while there were fewer section sales to
external parties in 2013 as the stock on
hand held by the CallumBrae Tainui
joint venture diminished. Fishing
returns remained relatively flat. Other
income included dairy revenue and
livestock revaluations, both of which
suffered compared to 2012, due largely
to drought conditions experienced
during the 2012/2013 summer. In 2012,
other income included dividends from
RymanHealthcare, but this did not
occur 2013 due to the sale of these shares
in July 2011.
Expenditure
Expenditure has been influenced
by costs associatedwith the
and
at
, given that we have a full year’s
worth of costs flowing through since
the hotel opened and also for stages 3
and 4 at
Newpositions at both
and at TGHhead office, have
affected employee costs.
A weight off the mind
moved to its present location at
20 Alma Street, Hamilton, overlooking
theWaikato River, a year ago. The
team, led by owner and head chef Mat
McLean, hasn’t looked back since,
winning Cuisine’s Best Regional
Restaurant title in 2012.
Mat has been running his own
restaurant for 8 years. One of the more
demanding but rewarding aspects of
the job is supervising the staff of 25
young people.
“You become a mentor, a counsellor,
everything. The whole experience, and
seeing themgrow, has changedme. It’s
taught me perseverance and belief that
success is not just financial.”
His relationship with TGHhas also
been positive. “We’d had enough of the
other end of town, and when I heard
this site was empty, I worked overtime
to develop a business plan and
approached them. They were helpful
and supportive, and I found a real
respect. Since then it’s been seamless,
we have a great relationship andmy
tenancy is no longer a concern.”
by spend in 2013
Top ten
suppliers
Watts & Hughes
Construction Limited
Construction services
Sam Pemberton Civil Limited
Construction services
Hamilton City Council
Local Government services
Naylor Love
Construction Limited
Construction services
Greenstone Group
Holdings Limited
Project management services
ISS Facility Services Limited
Cleaning services
Ignite Architects Limited
Architectual services
Boffa Miskell
Consultancy services
Bell Gully
Legal services
Waikato Security Services
Security service
